Glen Harbor Capital Management LLC trimmed its holdings in shares of Praxair, Inc. (NYSE:PX) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,248 shares of the basic materials company’s stock after selling 8,232 shares during the period. Glen Harbor Capital Management LLC’s holdings in Praxair were worth $21,547,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of Praxair by 8.9% during the first quarter. Daiwa Securities Group Inc. now owns 9,702 shares of the basic materials company’s stock valued at $1,400,000 after purchasing an additional 791 shares during the period. Atria Investments LLC raised its stake in shares of Praxair by 19.5% during the first quarter. Atria Investments LLC now owns 3,602 shares of the basic materials company’s stock valued at $520,000 after purchasing an additional 588 shares during the period. Mackay Shields LLC purchased a new stake in shares of Praxair during the first quarter valued at approximately $8,714,000. American Century Companies Inc. raised its stake in shares of Praxair by 8,428.4% during the first quarter. American Century Companies Inc. now owns 204,169 shares of the basic materials company’s stock valued at $29,462,000 after purchasing an additional 201,775 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Praxair by 78.0% during the first quarter. D.A. Davidson & CO. now owns 5,321 shares of the basic materials company’s stock valued at $768,000 after purchasing an additional 2,332 shares during the period. 86.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PX opened at $156.18 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.96 and a quick ratio of 0.78. The firm has a market capitalization of $45.49 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.03 and a beta of 1.09. Praxair, Inc. has a 12-month low of $129.83 and a 12-month high of $168.54.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.05 billion. Praxair had a net margin of 11.68% and a return on equity of 27.84%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 earnings per share. equities research analysts predict that Praxair, Inc. will post 6.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Monday, August 6th were paid a $0.825 dividend. The ex-dividend date was Friday, August 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.11%. Praxair’s dividend payout ratio (DPR) is presently 56.41%.
A number of analysts have recently issued reports on PX shares. ValuEngine upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Seaport Global Securities reiterated a “hold” rating and set a $175.00 price objective on shares of Praxair in a research note on Tuesday, August 7th. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Jefferies Financial Group reiterated a “$165.03” rating and set a $194.00 price objective on shares of Praxair in a research note on Wednesday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Praxair from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $178.42.
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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