Commonwealth Bank of Australia Grows Holdings in Praxair, Inc. (PX)

Commonwealth Bank of Australia grew its position in Praxair, Inc. (NYSE:PX) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,404 shares of the basic materials company’s stock after acquiring an additional 22 shares during the quarter. Commonwealth Bank of Australia’s holdings in Praxair were worth $3,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sandy Spring Bank increased its stake in Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC increased its stake in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares during the last quarter. Exane Derivatives bought a new stake in Praxair in the 2nd quarter worth approximately $109,000. Tortoise Investment Management LLC increased its stake in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares during the last quarter. Finally, Capital Analysts LLC increased its stake in Praxair by 6.8% in the 1st quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 65 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Praxair, Inc. (NYSE PX) opened at 135.01 on Tuesday. The company’s 50-day moving average price is $131.46 and its 200-day moving average price is $127.67. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock has a market cap of $38.62 billion, a PE ratio of 25.28 and a beta of 0.93.

Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. On average, equities analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.33%. Praxair’s dividend payout ratio (DPR) is 58.88%.

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A number of analysts have issued reports on the company. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vertical Research raised Praxair to a “hold” rating and boosted their target price for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, KeyCorp reissued a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $136.82.

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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