Renaissance Technologies LLC increased its position in shares of Praxair, Inc. (NYSE:PX) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 366,700 shares of the basic materials company’s stock after buying an additional 35,600 shares during the period. Renaissance Technologies LLC owned about 0.13% of Praxair worth $56,721,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Praxair during the fourth quarter worth approximately $128,000. Accident Compensation Corp purchased a new stake in shares of Praxair during the third quarter worth approximately $140,000. San Francisco Sentry Investment Group CA increased its stake in shares of Praxair by 2,171.1% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock worth $143,000 after buying an additional 977 shares during the period. Aevitas Wealth Management Inc. purchased a new stake in shares of Praxair during the fourth quarter worth approximately $162,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Praxair during the third quarter worth approximately $169,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.
A number of analysts recently weighed in on the stock. SunTrust Banks upped their target price on shares of Praxair to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Barclays upped their target price on shares of Praxair from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Citigroup restated a “buy” rating and set a $188.00 target price on shares of Praxair in a research note on Friday, January 26th. Finally, TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $167.50.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.85 billion. Praxair had a return on equity of 26.54% and a net margin of 10.90%. equities analysts anticipate that Praxair, Inc. will post 6.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be issued a $0.825 dividend. This is an increase from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Tuesday, March 6th. Praxair’s dividend payout ratio is presently 76.39%.
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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.
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