Piedmont Investment Advisors LLC lifted its holdings in shares of Praxair, Inc. (NYSE:PX) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,045 shares of the basic materials company’s stock after buying an additional 458 shares during the period. Piedmont Investment Advisors LLC’s holdings in Praxair were worth $8,092,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. ARGI Investment Services LLC boosted its position in shares of Praxair by 0.3% during the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Praxair by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares during the last quarter. Capital Management Corp VA boosted its position in shares of Praxair by 0.6% during the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after buying an additional 11 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Praxair by 0.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after buying an additional 13 shares during the last quarter. Finally, Lcnb Corp boosted its position in shares of Praxair by 0.4% during the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock valued at $461,000 after buying an additional 15 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors.
PX has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price objective on shares of Praxair in a research report on Wednesday, June 21st. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, KeyCorp reaffirmed 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, nine have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $138.00.
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Shares of Praxair, Inc. (NYSE:PX) traded up 0.35% on Friday, reaching $142.37. The company’s stock had a trading volume of 146,753 shares. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $142.97. The stock has a market cap of $40.72 billion, a PE ratio of 26.66 and a beta of 0.95. The firm has a 50 day moving average price of $136.45 and a 200-day moving average price of $131.03.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. 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 prior year, the business earned $1.39 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a $0.7875 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.22%. Praxair’s payout ratio is 58.88%.
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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