Praxair, Inc. (NYSE:PX) – Equities research analysts at Jefferies Group cut their FY2018 earnings estimates for shares of Praxair in a research report issued to clients and investors on Monday. Jefferies Group analyst L. Alexander now anticipates that the basic materials company will post earnings per share of $6.35 for the year, down from their prior forecast of $6.40. Jefferies Group has a “Buy” rating and a $186.00 price objective on the stock. Jefferies Group also issued estimates for Praxair’s FY2019 earnings at $6.85 EPS and FY2020 earnings at $7.50 EPS.

Other equities research analysts have also issued research reports about the company. Susquehanna Bancshares increased their price target on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. SunTrust Banks reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Monday, November 13th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Monday, November 6th. Finally, Citigroup raised Praxair from a “neutral” rating to a “buy” rating and raised their target price for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $156.15.

Praxair (PX) traded down $0.92 during mid-day trading on Wednesday, reaching $151.34. The company’s stock had a trading volume of 1,508,200 shares, compared to its average volume of 1,347,512. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. The firm has a market cap of $43,592.84, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.27 and a beta of 1.00. Praxair has a 52 week low of $115.00 and a 52 week high of $156.40.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. Praxair’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.08%. Praxair’s dividend payout ratio is presently 56.05%.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the transaction, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Praxair by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock valued at $2,757,471,000 after buying an additional 523,022 shares during the period. Capital World Investors lifted its holdings in shares of Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after buying an additional 716,835 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Praxair by 1.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock valued at $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP lifted its holdings in shares of Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock valued at $473,016,000 after buying an additional 655,456 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Praxair by 9.6% in the 3rd quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock valued at $416,663,000 after buying an additional 262,050 shares during the period. Hedge funds and other institutional investors own 86.43% of the company’s stock.

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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.

Earnings History and Estimates for Praxair (NYSE:PX)

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