Shelton Capital Management increased its stake in Praxair, Inc. (NYSE:PX) by 73.7% during the first quarter, Holdings Channel reports. The institutional investor owned 30,637 shares of the basic materials company’s stock after buying an additional 12,999 shares during the period. Shelton Capital Management’s holdings in Praxair were worth $3,634,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in PX. BlackRock Inc. boosted its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares in the last quarter. State Street Corp boosted its stake in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares in the last quarter. Wellington Management Group LLP boosted its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares in the last quarter. Finally, Parnassus Investments CA boosted its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares in the last quarter. 85.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE PX) opened at 134.74 on Monday. The stock has a market cap of $38.45 billion, a price-to-earnings ratio of 25.33 and a beta of 0.94. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The stock’s 50 day moving average is $133.98 and its 200-day moving average is $123.98.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
PX has been the topic of several research analyst reports. Barclays PLC raised their target price on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. BidaskClub cut shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Praxair has an average rating of “Hold” and an average target price of $130.77.
About Praxair
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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