Trade Report: The Hedeker Wealth LLC Invests $1,098,000 in Praxair Inc. (PX)

The Hedeker Wealth LLC Invests $1,098,000 in Praxair Inc. (PX)

Hedeker Wealth LLC acquired a new stake in Praxair Inc. (NYSE:PX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,778 shares of the company’s stock, valued at approximately $1,098,000.

Other large investors also recently made changes to their positions in the company. Carnick & Kubik LLC bought a new stake in shares of Praxair during the first quarter valued at about $109,000. Quadrant Capital Group LLC increased its stake in shares of Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock valued at $126,000 after buying an additional 11 shares during the last quarter. High Point Bank & Trust Co. increased its stake in shares of 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 during the last quarter. Advisory Services Network LLC increased its stake in shares of Praxair by 23.5% in the second quarter. Advisory Services Network LLC now owns 1,383 shares of the company’s stock valued at $155,000 after buying an additional 263 shares during the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in shares of Praxair during the second quarter valued at about $181,000. Institutional investors and hedge funds own 83.78% of the company’s stock.

Praxair Inc. (NYSE:PX) traded up 0.07% on Friday, hitting $117.18. The company had a trading volume of 464,337 shares. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00. The firm has a 50-day moving average price of $119.48 and a 200-day moving average price of $116.03. The firm has a market capitalization of $33.42 billion, a PE ratio of 21.34 and a beta of 0.93.

Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, equities research analysts anticipate that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is 54.55%.

PX has been the topic of several research analyst reports. Jefferies Group restated a “buy” rating and issued a $140.00 price objective 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 Thursday, June 23rd. Barclays PLC raised their target price on Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Morgan Stanley initiated coverage on Praxair in a research report on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 target price for the company. Finally, Argus reaffirmed a “hold” rating on shares of Praxair in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently 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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