Shelter Ins Retirement Plan held its position in Praxair Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The fund owned 26,900 shares of the company’s stock at the end of the second quarter. Shelter Ins Retirement Plan’s holdings in Praxair were worth $3,023,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Deprince Race & Zollo Inc. boosted its position in Praxair by 3.7% in the second quarter. Deprince Race & Zollo Inc. now owns 374,757 shares of the company’s stock valued at $42,119,000 after buying an additional 13,512 shares during the period. American Century Companies Inc. boosted its position in Praxair by 10.8% in the second quarter. American Century Companies Inc. now owns 5,380 shares of the company’s stock valued at $605,000 after buying an additional 526 shares during the period. Patriot Wealth Management Inc. boosted its position in Praxair by 2.1% in the second quarter. Patriot Wealth Management Inc. now owns 40,959 shares of the company’s stock valued at $4,603,000 after buying an additional 856 shares during the period. Candriam Luxembourg S.C.A. boosted its position in Praxair by 66.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 16,270 shares of the company’s stock valued at $1,829,000 after buying an additional 6,497 shares during the period. Finally, Confluence Investment Management LLC boosted its position in Praxair by 10.9% in the second quarter. Confluence Investment Management LLC now owns 502,325 shares of the company’s stock valued at $56,456,000 after buying an additional 49,478 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 0.34% during midday trading on Monday, reaching $121.24. 1,708,258 shares of the company traded hands. The company has a 50 day moving average of $120.03 and a 200-day moving average of $115.68. The stock has a market capitalization of $34.58 billion, a P/E ratio of 22.08 and a beta of 0.93. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 earnings per share. Equities analysts anticipate that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s payout ratio is currently 54.55%.
Several research firms recently weighed in on PX. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Praxair in a research report on Friday. Morgan Stanley assumed coverage on shares of Praxair in a report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 target price for the company. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Finally, Argus reaffirmed a “hold” rating on shares of Praxair in a report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target 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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.