UMB Bank N A MO lowered its position in Praxair Inc. (NYSE:PX) by 5.7% during the second quarter, Holdings Channel reports. The institutional investor owned 25,953 shares of the company’s stock after selling 1,564 shares during the period. UMB Bank N A MO’s holdings in Praxair were worth $2,916,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new stake in Praxair during the first quarter valued at approximately $72,332,000. Locust Wood Capital Advisers LLC acquired a new stake in shares of Praxair during the second quarter valued at about $46,243,000. Bank of Montreal Can acquired a new stake in shares of Praxair during the second quarter valued at about $34,686,000. 1832 Asset Management L.P. raised its stake in shares of Praxair by 2,936.4% in the first quarter. 1832 Asset Management L.P. now owns 308,495 shares of the company’s stock valued at $59,111,000 after buying an additional 298,335 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Praxair by 2.4% in the first quarter. State Street Corp now owns 12,545,803 shares of the company’s stock valued at $1,435,875,000 after buying an additional 289,196 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors.
Praxair Inc. (NYSE:PX) traded down 1.29% during mid-day trading on Friday, reaching $116.84. 1,558,168 shares of the company’s stock were exchanged. The company has a 50-day moving average of $119.71 and a 200-day moving average of $115.24. Praxair Inc. has a 52-week low of $95.60 and a 52-week high of $125.00. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 21.27 and a beta of 0.90.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The business earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company posted $1.45 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Praxair Inc. will post $5.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a dividend of $0.75 per share. The ex-dividend date was Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. Praxair’s dividend payout ratio (DPR) is presently 54.55%.
Several equities research analysts have issued reports on PX shares. Jefferies Group reiterated a “buy” rating and issued a $140.00 price target on shares of Praxair in a research note on Tuesday, August 16th. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Morgan Stanley assumed coverage on shares of Praxair in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective on the stock. Finally, Citigroup Inc. boosted their price objective on shares of Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Praxair presently has a consensus rating of “Hold” and a consensus target price of $118.57.
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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