Clark Capital Management Group Inc. increased its stake in shares of Praxair, Inc. (NYSE:PX) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,702 shares of the basic materials company’s stock after buying an additional 604 shares during the period. Clark Capital Management Group Inc.’s holdings in Praxair were worth $573,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LPL Financial LLC increased its holdings in Praxair by 59.3% during the fourth quarter. LPL Financial LLC now owns 26,251 shares of the basic materials company’s stock worth $4,061,000 after buying an additional 9,774 shares during the last quarter. Millennium Management LLC increased its stake in shares of Praxair by 110.2% in the fourth quarter. Millennium Management LLC now owns 397,213 shares of the basic materials company’s stock worth $61,441,000 after purchasing an additional 208,233 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Praxair by 7.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 64,613 shares of the basic materials company’s stock worth $9,993,000 after purchasing an additional 4,363 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Praxair by 17.4% in the fourth quarter. Teachers Advisors LLC now owns 869,215 shares of the basic materials company’s stock worth $134,450,000 after purchasing an additional 129,106 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Praxair in the fourth quarter worth about $6,162,000. Institutional investors and hedge funds own 86.20% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Seaport Global Securities reiterated a “hold” rating and issued a $165.00 target price on shares of Praxair in a research note on Wednesday, January 31st. TheStreet downgraded shares of Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. SunTrust Banks lifted their target price on shares of Praxair to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Barclays boosted their price objective on shares of Praxair from $160.00 to $170.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Praxair presently has a consensus rating of “Buy” and an average target price of $167.50.
Praxair (NYSE:PX) last announced its earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. Praxair had a net margin of 10.90% and a return on equity of 26.54%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.85 billion. equities analysts forecast that Praxair, Inc. will post 6.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 annualized dividend and a yield of 2.14%. Praxair’s payout ratio is presently 76.39%.
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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