RS Investment Management Co. LLC raised its position in Praxair Inc. (NYSE:PX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,154 shares of the company’s stock after buying an additional 630 shares during the period. RS Investment Management Co. LLC’s holdings in Praxair were worth $8,784,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Carnick & Kubik LLC acquired a new stake in shares of Praxair during the first quarter worth $109,000. High Point Bank & Trust Co. increased its stake in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock valued at $140,000 after buying an additional 250 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Praxair during the second quarter valued at approximately $181,000. Tompkins Financial Corp increased its stake in Praxair by 183.9% in the second quarter. Tompkins Financial Corp now owns 1,706 shares of the company’s stock valued at $192,000 after buying an additional 1,105 shares in the last quarter. Finally, Capital Management Corp VA increased its stake in Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock valued at $204,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded down 0.35% on Monday, hitting $116.43. The stock had a trading volume of 1,477,360 shares. The stock has a market cap of $33.21 billion, a PE ratio of 21.20 and a beta of 0.90. Praxair Inc. has a 12 month low of $95.60 and a 12 month high of $125.00. The stock has a 50 day moving average of $119.71 and a 200-day moving average of $115.44.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. The business earned $2.70 billion during the quarter, compared to analyst estimates of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. Equities research analysts anticipate that Praxair Inc. will post $5.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s payout ratio is currently 54.55%.
PX has been the subject of several recent research reports. Jefferies Group restated a “buy” rating and set a $135.00 price objective on shares of Praxair in a report on Wednesday, June 15th. TheStreet upgraded Praxair from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Barclays PLC boosted their price objective on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Morgan Stanley initiated coverage on Praxair in a report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective for the company. Finally, Argus restated a “hold” rating on shares of Praxair in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $118.57.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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