Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Praxair, Inc. (NYSE:PX) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 597,873 shares of the basic materials company’s stock after purchasing an additional 23,328 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.21% of Praxair worth $83,547,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after buying an additional 123 shares in the last quarter. Kistler tiffany & co shop Companies LLC boosted its position in shares of Praxair by 149.8% in the 3rd quarter. Kistler tiffany & co shop Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of Praxair in the 2nd quarter valued at $106,000. Tortoise Investment Management LLC boosted its position in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares during the period. Finally, Pacific Center for tiffany & co financial Services boosted its position in shares of Praxair by 65.7% in the 2nd quarter. Pacific Center for tiffany & co financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares during the period. 86.43% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (NYSE:PX) opened at $149.60 on Friday. Praxair, Inc. has a one year low of $115.00 and a one year high of $156.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. The firm has a market capitalization of $43,309.40, a PE ratio of 26.35, a PEG ratio of 2.26 and a beta of 1.00.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business earned $1.41 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. equities research analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, December 7th were paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Wednesday, December 6th. Praxair’s payout ratio is 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 value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.
PX has been the subject of a number of recent analyst reports. Susquehanna Bancshares upgraded Praxair from a “neutral” rating to a “positive” rating and increased their price target for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research report on Monday, November 6th. UBS upgraded Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Jefferies Group reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. Finally, J P Morgan Chase & Co increased their price objective on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Praxair has an average rating of “Hold” and a consensus price target of $157.38.
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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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