Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of Praxair, Inc. (NYSE:PX) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,162 shares of the basic materials company’s stock after selling 126 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Praxair were worth $154,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Exane Derivatives bought a new stake in Praxair during the second quarter worth approximately $109,000. Sandy Spring Bank increased its stake in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the period. V Wealth Management LLC bought a new stake in Praxair during the second quarter worth approximately $124,000. First Command Bank increased its stake in Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares during the period. Finally, Capital Analysts LLC increased its stake in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the period. 84.86% of the stock is owned by institutional investors.
Shares of Praxair, Inc. (NYSE:PX) opened at 132.75 on Wednesday. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The stock’s 50 day moving average is $132.34 and its 200-day moving average is $126.22. The company has a market cap of $37.97 billion, a P/E ratio of 24.86 and a beta of 0.93.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. Praxair’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.37%. Praxair’s payout ratio is currently 58.88%.
A number of research firms have commented on PX. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 target price (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Praxair presently has an average rating of “Hold” and a consensus target price of $135.00.
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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