Teachers Retirement System of The State of Kentucky lowered its stake in Praxair, Inc. (NYSE:PX) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,900 shares of the basic materials company’s stock after selling 3,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Praxair were worth $3,783,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of PX. Egerton Capital UK LLP increased its position in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock valued at $277,297,000 after buying an additional 215,399 shares in the last quarter. Cribstone Capital Management LLC increased its stake in Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock worth $280,000 after buying an additional 779 shares during the period. Searle & CO. purchased a new stake in Praxair during the fourth quarter worth $250,000. Benin Management CORP increased its stake in Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock worth $1,254,000 after buying an additional 2,675 shares during the period. Finally, Rockland Trust Co. increased its stake in Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock worth $8,719,000 after buying an additional 2,235 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.26% during mid-day trading on Wednesday, reaching $128.25. 321,663 shares of the company’s stock traded hands. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The firm has a market cap of $36.68 billion, a price-to-earnings ratio of 24.02 and a beta of 0.93. The company’s 50 day moving average is $133.31 and its 200-day moving average is $125.12.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. Equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.45%. Praxair’s dividend payout ratio is 58.88%.
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A number of research firms have weighed in on PX. BidaskClub downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price for the company in a research report on Monday, July 31st. Vertical Research raised Praxair to a “hold” rating and upped their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Vertical Group raised Praxair to a “hold” rating and upped their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $135.00.
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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