Stocks: Vigilant Capital Management LLC Raises Stake in Praxair, Inc. (PX)

Stocks: Vigilant Capital Management LLC Raises Stake in Praxair, Inc. (PX)

Vigilant Capital Management LLC raised its position in Praxair, Inc. (NYSE:PX) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,836 shares of the basic materials company’s stock after buying an additional 2,112 shares during the period. Vigilant Capital Management LLC’s holdings in Praxair were worth $7,927,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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.

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. The firm has a 50-day moving average of $121.35 and a 200 day moving average of $118.96. Praxair, Inc. has a 1-year low of $106.31 and a 1-year high of $129.53.

Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Praxair had a net margin of 14.24% and a return on equity of 28.75%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal 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 issued 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 (DPR) is presently 57.47%.

A number of research firms have recently issued reports on PX. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a report on Monday, April 3rd. JPMorgan Chase & Co. upgraded shares of Praxair from a “neutral” rating to an “overweight” rating and set a $125.00 price target on the stock in a report on Friday, January 27th. Seaport Global Securities lowered shares of Praxair from an “accumulate” rating to a “neutral” rating in a report on Wednesday, February 1st. Evercore ISI began coverage on shares of Praxair in a report on Monday, February 13th. They set a “sell” rating and a $107.00 price target on the stock. Finally, Barclays PLC boosted their price target on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price 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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