Woodmont Investment Counsel LLC decreased its position in Praxair, Inc. (NYSE:PX) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,824 shares of the basic materials company’s stock after selling 1,103 shares during the period. Woodmont Investment Counsel LLC’s holdings in Praxair were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after purchasing an additional 16,839,374 shares during the period. Renaissance Technologies LLC grew its position in Praxair by 287.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after purchasing an additional 1,158,100 shares during the period. CI Global Investments Inc. grew its position in Praxair by 141.4% during the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after purchasing an additional 1,132,606 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Praxair during the 1st quarter worth about $55,637,000. Finally, Wellington Management Group LLP grew its position in Praxair by 6.2% during the 1st quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after purchasing an additional 446,016 shares during the period. Institutional investors own 85.33% of the company’s stock.
Praxair, Inc. (NYSE PX) traded up 1.55% on Wednesday, reaching $138.63. 776,201 shares of the company’s stock were exchanged. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.72. The company has a market cap of $39.65 billion, a P/E ratio of 25.96 and a beta of 0.93. The firm has a 50 day moving average of $131.77 and a 200-day moving average of $128.42.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. Equities analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a $0.7875 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.31%. Praxair’s dividend payout ratio is presently 58.88%.
Several equities research analysts have weighed in on PX shares. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and raised their target price for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Jefferies Group LLC restated a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Praxair has a consensus rating of “Hold” and a consensus price target of $138.00.
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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