Alerus Financial NA decreased its stake in Praxair, Inc. (NYSE:PX) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 1,904 shares of the basic materials company’s stock after selling 40 shares during the period. Alerus Financial NA’s holdings in Praxair were worth $225,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Praxair by 3.9% in the fourth quarter. State Street Corp now owns 13,745,641 shares of the basic materials company’s stock valued at $1,610,853,000 after buying an additional 513,906 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Praxair by 5.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,948,580 shares of the basic materials company’s stock valued at $597,937,000 after buying an additional 244,400 shares in the last quarter. Parnassus Investments CA increased its position in Praxair by 9.9% in the third quarter. Parnassus Investments CA now owns 4,300,607 shares of the basic materials company’s stock valued at $519,642,000 after buying an additional 386,989 shares in the last quarter. Norges Bank purchased a new position in Praxair during the fourth quarter valued at about $356,787,000. Finally, UBS Group AG increased its position in Praxair by 500.6% in the third quarter. UBS Group AG now owns 2,854,873 shares of the basic materials company’s stock valued at $344,954,000 after buying an additional 2,379,512 shares in the last quarter. 83.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE:PX) opened at 128.69 on Friday. The company has a market capitalization of $36.72 billion, a PE ratio of 24.19 and a beta of 0.98. The company has a 50-day moving average price of $121.35 and a 200 day moving average price of $118.96. Praxair, Inc. has a one year low of $106.31 and a one year high of $129.53.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. Praxair had a return on equity of 28.75% and a net margin of 14.24%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. Equities analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, June 7th will be given a $0.7875 dividend. The ex-dividend date of this dividend is Monday, June 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.44%. Praxair’s dividend payout ratio is currently 57.47%.
Several research firms have recently issued reports on PX. Barclays PLC upped their price objective on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Seaport Global Securities downgraded Praxair from an “accumulate” rating to a “neutral” rating in a research note on Wednesday, February 1st. JPMorgan Chase & Co. raised Praxair from a “neutral” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Friday, January 27th. Finally, Evercore ISI began coverage on Praxair in a research note on Monday, February 13th. They issued a “sell” rating and a $107.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Praxair presently has a consensus rating of “Hold” and an average price target of $123.91.
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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