United Services Automobile Association increased its stake in Praxair, Inc. (NYSE:PX) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,585 shares of the basic materials company’s stock after buying an additional 5,444 shares during the period. United Services Automobile Association owned about 0.06% of Praxair worth $19,994,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Carroll Financial Associates Inc. boosted its stake in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its stake in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Capital Analysts LLC boosted its stake in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Praxair by 4.0% in the first quarter. Quadrant Capital Group LLC now owns 1,208 shares of the basic materials company’s stock worth $137,000 after buying an additional 47 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in Praxair by 3.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,232 shares of the basic materials company’s stock worth $146,000 after buying an additional 36 shares during the last quarter. Institutional investors own 85.49% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) traded up 0.42% during trading on Tuesday, hitting $130.71. 1,783,263 shares of the stock were exchanged. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The firm has a market capitalization of $37.39 billion, a P/E ratio of 24.48 and a beta of 0.94. The firm has a 50 day moving average price of $133.87 and a 200 day moving average price of $124.91.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. Analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio is currently 58.88%.
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PX has been the topic of a number of analyst reports. BidaskClub cut shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Bank of America Corp raised shares of Praxair from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, June 7th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 price objective on the stock in a research note on Friday, April 21st. Finally, Barclays PLC upped their price objective on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $134.09.
Praxair Company Profile
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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