Raymond James & Associates grew its stake in shares of Praxair, Inc. (NYSE:PX) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 747,224 shares of the basic materials company’s stock after acquiring an additional 36,925 shares during the quarter. Raymond James & Associates owned about 0.26% of Praxair worth $115,583,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenleaf Trust boosted its holdings in shares of Praxair by 4.5% in the fourth quarter. Greenleaf Trust now owns 8,194 shares of the basic materials company’s stock worth $1,267,000 after buying an additional 351 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Praxair by 6.9% in the fourth quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock worth $849,000 after buying an additional 352 shares during the last quarter. Advisor Partners LLC boosted its holdings in shares of Praxair by 6.5% in the fourth quarter. Advisor Partners LLC now owns 5,839 shares of the basic materials company’s stock worth $945,000 after buying an additional 357 shares during the last quarter. Pennsylvania Trust Co boosted its holdings in shares of Praxair by 1.6% in the fourth quarter. Pennsylvania Trust Co now owns 23,225 shares of the basic materials company’s stock worth $3,592,000 after buying an additional 363 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its holdings in shares of Praxair by 0.3% in the third quarter. Guyasuta Investment Advisors Inc. now owns 131,701 shares of the basic materials company’s stock worth $18,404,000 after buying an additional 367 shares during the last quarter. 86.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. TheStreet downgraded shares of Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Seaport Global Securities reissued a “hold” rating and issued a $165.00 price objective on shares of Praxair in a report on Wednesday, January 31st. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a report on Thursday, January 11th. Citigroup reissued a “buy” rating and issued a $188.00 price objective on shares of Praxair in a report on Friday, January 26th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Praxair in a report on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $167.50.
Praxair (NYSE:PX) last released its earnings results on Thursday, January 25th. The basic materials company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. Praxair had a net margin of 10.90% and a return on equity of 26.54%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.85 billion. equities analysts forecast that Praxair, Inc. will post 6.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.825 per share. This is a boost from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 dividend on an annualized basis and a yield of 2.03%. Praxair’s dividend payout ratio (DPR) is presently 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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