Palisade Asset Management LLC maintained its stake in Praxair, Inc. (NYSE:PX) during the first quarter, Holdings Channel reports. The firm owned 2,815 shares of the basic materials company’s stock at the end of the first quarter. Palisade Asset Management LLC’s holdings in Praxair were worth $334,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in PX. Carroll Financial Associates Inc. increased 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. First Command Bank acquired a new stake in Praxair during the fourth quarter worth approximately $104,000. TLP Group LLC acquired a new stake in Praxair during the third quarter worth approximately $131,000. Quadrant Capital Group LLC increased 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 increased its stake in Praxair by 11.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,196 shares of the basic materials company’s stock worth $144,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 83.03% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at 128.69 on Friday. The firm has a market cap of $36.72 billion, a price-to-earnings ratio of 24.19 and a beta of 0.98. Praxair, Inc. has a 12-month low of $106.31 and a 12-month high of $129.53. The stock’s 50 day moving average is $121.35 and its 200-day moving average is $118.96.
Praxair (NYSE:PX) last announced its earnings results on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.62 billion. Praxair had a net margin of 14.24% and a return on equity of 28.75%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, June 7th will be issued a dividend of $0.7875 per share. The ex-dividend date is Monday, June 5th. This represents a $3.15 annualized dividend and a yield of 2.44%. Praxair’s dividend payout ratio (DPR) is currently 57.47%.
A number of analysts recently commented on PX shares. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, April 21st. Barclays PLC boosted their target price on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Seaport Global Securities downgraded shares of Praxair from an “accumulate” rating to a “neutral” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. upgraded shares of Praxair from a “neutral” rating to an “overweight” rating and set a $125.00 target price on the stock in a report on Friday, January 27th. Finally, Evercore ISI started coverage on shares of Praxair in a report on Monday, February 13th. They issued a “sell” rating and a $107.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $123.91.
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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