State Street Corp increased its stake in Praxair, Inc. (NYSE:PX) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,820,497 shares of the basic materials company’s stock after buying an additional 74,856 shares during the period. State Street Corp owned about 4.84% of Praxair worth $1,639,105,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Praxair by 5.1% in the fourth quarter. AQR Capital Management LLC now owns 20,360 shares of the basic materials company’s stock worth $2,386,000 after buying an additional 980 shares in the last quarter. Teachers Advisors LLC increased its stake in Praxair by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 499,203 shares of the basic materials company’s stock worth $58,502,000 after buying an additional 25,131 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Praxair during the fourth quarter worth about $2,427,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Praxair during the fourth quarter worth about $1,083,000. Finally, Searle & CO. acquired a new stake in Praxair during the fourth quarter worth about $250,000. 85.49% of the stock is owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE PX) traded down 0.287% during trading on Wednesday, reaching $130.335. 437,241 shares of the company were exchanged. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The company has a market capitalization of $37.28 billion, a P/E ratio of 24.407 and a beta of 0.93. The firm’s 50-day moving average is $133.75 and its 200 day moving average is $125.01.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
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A number of research firms have issued reports on PX. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co restated 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. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $134.09.
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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