Canandaigua National Bank & Trust Co. lowered its stake in Praxair Inc. (NYSE:PX) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,285 shares of the company’s stock after selling 66 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Praxair were worth $1,484,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PX. Point72 Asia Hong Kong Ltd acquired a new position in shares of Praxair during the second quarter valued at approximately $101,000. SevenBridge Financial Group LLC acquired a new position in shares of Praxair during the second quarter valued at approximately $118,000. Quadrant Capital Group LLC boosted its position 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. boosted its position 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. Finally, Advisory Services Network LLC boosted its position 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. Institutional investors and hedge funds own 81.45% of the company’s stock.
Praxair Inc. (NYSE:PX) traded down 0.33% during trading on Monday, reaching $118.69. 749,878 shares of the company’s stock traded hands. Praxair Inc. has a 52-week low of $95.60 and a 52-week high of $125.00. The company’s 50 day moving average is $117.60 and its 200-day moving average is $116.55. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of 22.52 and a beta of 0.95.
Praxair (NYSE:PX) last posted its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.01. Praxair had a net margin of 14.46% and a return on equity of 29.92%. The firm earned $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Praxair Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, December 7th will be paid a $0.75 dividend. The ex-dividend date is Monday, December 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.53%. Praxair’s payout ratio is 56.82%.
A number of brokerages have commented on PX. Argus reiterated a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. increased their price target on shares of Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. 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. Finally, Morgan Stanley began coverage on shares of Praxair in a research note on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $118.57.
In related news, insider Anne K. Roby sold 17,103 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $117.40, for a total value of $2,007,892.20. Following the transaction, the insider now directly owns 19,337 shares of the company’s stock, valued at approximately $2,270,163.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
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.