Shares of Praxair, Inc. (NYSE:PX) have been given an average recommendation of “Buy” by the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $166.85.
PX has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and increased their price target for the stock from $155.00 to $175.00 in a report on Tuesday, December 19th. UBS Group increased their price target on Praxair to $176.00 and gave the stock a “buy” rating in a report on Friday, December 15th. SunTrust Banks increased their price target on Praxair to $185.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a report on Monday, November 13th.
Several hedge funds have recently added to or reduced their stakes in the company. Greenleaf Trust boosted its position in shares of Praxair by 4.5% during the 4th quarter. Greenleaf Trust now owns 8,194 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 351 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Praxair by 6.9% during the 4th quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock worth $849,000 after purchasing an additional 352 shares in the last quarter. Advisor Partners LLC boosted its position in shares of Praxair by 6.5% during the 4th quarter. Advisor Partners LLC now owns 5,839 shares of the basic materials company’s stock worth $945,000 after purchasing an additional 357 shares in the last quarter. Pennsylvania Trust Co boosted its position in shares of Praxair by 1.6% during the 4th quarter. Pennsylvania Trust Co now owns 23,225 shares of the basic materials company’s stock worth $3,592,000 after purchasing an additional 363 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its position in shares of Praxair by 0.3% during the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 131,701 shares of the basic materials company’s stock worth $18,404,000 after purchasing an additional 367 shares in the last quarter. 86.20% of the stock is currently owned by institutional investors.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.04. Praxair had a return on equity of 26.54% and a net margin of 10.90%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.85 billion. analysts forecast that Praxair will post 6.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a boost from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio is 76.39%.
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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