One Capital Management LLC raised its position in shares of Praxair Inc. (NYSE:PX) by 5.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,981 shares of the company’s stock after buying an additional 826 shares during the period. One Capital Management LLC’s holdings in Praxair were worth $2,052,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC boosted its position in Praxair by 0.4% in the second quarter. Joel Isaacson & Co. LLC now owns 2,015 shares of the company’s stock worth $226,000 after buying an additional 8 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock worth $126,000 after buying an additional 11 shares in the last quarter. Capital Management Corp VA boosted its position in Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock worth $204,000 after buying an additional 12 shares in the last quarter. Park National Corp OH boosted its position in Praxair by 0.3% in the second quarter. Park National Corp OH now owns 4,562 shares of the company’s stock worth $513,000 after buying an additional 15 shares in the last quarter. Finally, MAI Capital Management boosted its position in Praxair by 0.5% in the second quarter. MAI Capital Management now owns 3,022 shares of the company’s stock worth $340,000 after buying an additional 16 shares in the last quarter. 81.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair Inc. (NYSE:PX) traded down 0.33% during trading on Monday, reaching $118.69. The company had a trading volume of 749,878 shares. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00. The firm has a market capitalization of $33.87 billion, a PE ratio of 22.52 and a beta of 0.95. The firm has a 50-day moving average of $117.60 and a 200 day moving average of $116.55.
Praxair (NYSE:PX) last posted its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share for the quarter, beating 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 the consensus estimate of $2.70 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Praxair Inc. will post $5.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, December 7th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 5th. This represents a $3.00 annualized dividend and a yield of 2.53%. Praxair’s dividend payout ratio (DPR) is presently 56.82%.
A number of research firms have recently commented on PX. Argus reaffirmed a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. increased their price objective on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating and issued a $140.00 price objective on shares of Praxair in a research note on Tuesday, August 16th. Finally, Morgan Stanley assumed coverage on Praxair in a research note on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $118.57.
In related news, insider Anne K. Roby sold 17,103 shares of Praxair stock in a transaction that occurred on 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 completion of the sale, the insider now owns 19,337 shares in the company, valued at approximately $2,270,163.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate 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.