Ontario Teachers Pension Plan Board boosted its stake in shares of Praxair, Inc. (NYSE:PX) by 47.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,427 shares of the basic materials company’s stock after acquiring an additional 57,575 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Praxair were worth $28,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of PX. Lowe Brockenbrough & Co. Inc. lifted its holdings in Praxair by 12.1% in the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 5,090 shares of the basic materials company’s stock worth $805,000 after buying an additional 550 shares during the period. Richard Bernstein Advisors LLC raised its position in shares of Praxair by 4.7% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 27,539 shares of the basic materials company’s stock worth $4,355,000 after acquiring an additional 1,227 shares in the last quarter. Hartford Financial Management Inc. raised its position in shares of Praxair by 439.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,105 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 900 shares in the last quarter. North Star Asset Management Inc. bought a new position in shares of Praxair in the 2nd quarter worth approximately $206,000. Finally, Roberts Glore & Co. Inc. IL bought a new position in shares of Praxair in the 2nd quarter worth approximately $727,000. Institutional investors own 86.47% of the company’s stock.
PX stock traded down $0.66 on Thursday, reaching $158.84. 4,503 shares of the company traded hands, compared to its average volume of 1,445,795. Praxair, Inc. has a one year low of $129.74 and a one year high of $168.54. The company has a quick ratio of 0.78, a current ratio of 0.96 and a debt-to-equity ratio of 1.11. The firm has a market cap of $45.45 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.02. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts expect that Praxair, Inc. will post 6.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Monday, August 6th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, August 3rd. Praxair’s dividend payout ratio (DPR) is presently 56.41%.
Several brokerages have recently issued reports on PX. Seaport Global Securities reissued a “hold” rating and issued a $175.00 target price on shares of Praxair in a research report on Tuesday, August 7th. BMO Capital Markets increased their target price on Praxair from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. increased their target price on Praxair from $180.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Finally, Jefferies Financial Group reissued a “$165.03” rating and issued a $194.00 target price on shares of Praxair in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Praxair currently has an average rating of “Buy” and a consensus price target of $178.42.
Praxair Company Profile
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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