Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Praxair, Inc. (NYSE:PX) by 81.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,882 shares of the basic materials company’s stock after selling 46,743 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Praxair were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in PX. Autus Asset Management LLC grew its holdings in Praxair by 2.0% in the second quarter. Autus Asset Management LLC now owns 35,691 shares of the basic materials company’s stock worth $4,730,000 after purchasing an additional 695 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Praxair by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,238 shares of the basic materials company’s stock worth $2,815,000 after purchasing an additional 92 shares during the period. Pictet North America Advisors SA grew its holdings in Praxair by 3.5% in the second quarter. Pictet North America Advisors SA now owns 7,541 shares of the basic materials company’s stock worth $1,000,000 after purchasing an additional 258 shares during the period. State of Tennessee Treasury Department grew its holdings in Praxair by 24.7% in the second quarter. State of Tennessee Treasury Department now owns 140,720 shares of the basic materials company’s stock worth $18,653,000 after purchasing an additional 27,858 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new stake in Praxair in the second quarter worth about $808,000. Institutional investors own 85.34% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 132.46 on Friday. The company has a market cap of $37.89 billion, a P/E ratio of 24.81 and a beta of 0.93. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The stock has a 50 day moving average of $131.56 and a 200 day moving average of $127.46.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Wednesday, September 6th. Praxair’s payout ratio is currently 58.88%.
A number of equities research analysts have weighed in on the stock. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a report on Thursday. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vertical Research upgraded shares of Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, KeyCorp restated a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $136.82.
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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