Dai Ichi Life Insurance Company Ltd decreased its position in shares of Praxair, Inc. (NYSE:PX) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,646 shares of the basic materials company’s stock after selling 396 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Praxair were worth $2,158,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. Boston Research & Management Inc. grew its holdings in shares of Praxair by 1.7% during the second quarter. Boston Research & Management Inc. now owns 17,670 shares of the basic materials company’s stock worth $2,794,000 after purchasing an additional 300 shares during the last quarter. James Hambro & Partners grew its holdings in shares of Praxair by 2.6% during the second quarter. James Hambro & Partners now owns 12,025 shares of the basic materials company’s stock worth $1,902,000 after purchasing an additional 310 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Praxair by 2.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 14,250 shares of the basic materials company’s stock worth $2,254,000 after purchasing an additional 323 shares during the last quarter. Catawba Capital Management VA grew its holdings in shares of Praxair by 3.5% during the second quarter. Catawba Capital Management VA now owns 9,667 shares of the basic materials company’s stock worth $1,529,000 after purchasing an additional 325 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Praxair by 9.6% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,760 shares of the basic materials company’s stock worth $595,000 after buying an additional 330 shares during the last quarter. 86.46% of the stock is currently owned by institutional investors.
NYSE PX opened at $156.14 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.96. Praxair, Inc. has a 52-week low of $130.73 and a 52-week high of $168.54. The stock has a market cap of $45.49 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.03 and a beta of 1.09.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.02. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.05 billion. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. analysts predict that Praxair, Inc. will post 6.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Monday, August 6th were given a $0.825 dividend. The ex-dividend date was Friday, August 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 2.11%. Praxair’s payout ratio is currently 56.41%.
A number of equities analysts recently issued reports on PX shares. ValuEngine raised Praxair from a “hold” rating to a “buy” rating in a report on Friday, June 29th. Seaport Global Securities reissued a “hold” rating and set a $175.00 price target on shares of Praxair in a report on Tuesday, August 7th. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. Jefferies Financial Group reissued a “$165.03” rating and set a $194.00 price target on shares of Praxair in a report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. raised their price target on Praxair from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target 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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