DNB Asset Management AS boosted its stake in Praxair, Inc. (NYSE:PX) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,198 shares of the basic materials company’s stock after purchasing an additional 1,395 shares during the quarter. DNB Asset Management AS’s holdings in Praxair were worth $6,300,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its stake in Praxair by 2.0% during the second quarter. CIBC Asset Management Inc now owns 33,029 shares of the basic materials company’s stock worth $5,224,000 after acquiring an additional 662 shares in the last quarter. Sun Life Financial INC raised its stake in Praxair by 414.8% during the second quarter. Sun Life Financial INC now owns 2,162 shares of the basic materials company’s stock worth $342,000 after acquiring an additional 1,742 shares in the last quarter. Greenleaf Trust raised its stake in Praxair by 25.8% during the second quarter. Greenleaf Trust now owns 10,060 shares of the basic materials company’s stock worth $1,591,000 after acquiring an additional 2,060 shares in the last quarter. Schroder Investment Management Group raised its stake in Praxair by 9.7% during the second quarter. Schroder Investment Management Group now owns 847,150 shares of the basic materials company’s stock worth $132,731,000 after acquiring an additional 74,610 shares in the last quarter. Finally, Glenview Trust Co acquired a new position in Praxair during the second quarter worth about $217,000. 86.27% of the stock is owned by institutional investors and hedge funds.
PX has been the subject of several research analyst reports. Jefferies Financial Group reissued a “$165.03” rating and set a $194.00 target price on shares of Praxair in a research note on Wednesday, July 18th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $177.00 target price for the company in a research note on Wednesday, June 20th. Citigroup boosted their target price on Praxair from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. ValuEngine raised Praxair from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Finally, BMO Capital Markets reissued a “hold” rating and set a $164.00 target price on shares of Praxair in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $175.38.
NYSE:PX opened at $156.24 on Friday. The stock has a market cap of $46.22 billion, a PE ratio of 26.71, a PEG ratio of 1.91 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. Praxair, Inc. has a 1-year low of $139.54 and a 1-year high of $169.75.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Praxair, Inc. will post 6.77 earnings per share for the current year.
Praxair Company Profile
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
Featured Story: How Short Selling Works
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with MarketBeat.com's FREE daily email newsletter.