Adirondack Trust Co. continued to hold its stake in shares of Praxair, Inc. (NYSE:PX) during the first quarter, Holdings Channel reports. The institutional investor owned 3,291 shares of the company’s stock at the end of the first quarter. Adirondack Trust Co.’s holdings in Praxair were worth $391,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the company’s stock valued at $100,000 after buying an additional 120 shares in the last quarter. First Command Bank bought a new position in Praxair during the fourth quarter valued at approximately $104,000. Cornerstone Advisors Inc. raised its position in Praxair by 761.9% in the third quarter. Cornerstone Advisors Inc. now owns 974 shares of the company’s stock valued at $118,000 after buying an additional 861 shares in the last quarter. TLP Group LLC bought a new position in Praxair during the third quarter valued at approximately $131,000. Finally, Quadrant Capital Group LLC raised its position in Praxair by 4.0% in the first quarter. Quadrant Capital Group LLC now owns 1,208 shares of the company’s stock valued at $137,000 after buying an additional 47 shares in the last quarter. 83.03% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.13% during mid-day trading on Thursday, reaching $118.08. 399,723 shares of the company traded hands. The stock has a market capitalization of $33.66 billion, a price-to-earnings ratio of 22.66 and a beta of 0.98. Praxair, Inc. has a 52-week low of $106.31 and a 52-week high of $125.00. The company’s 50 day moving average is $118.15 and its 200 day moving average is $118.26.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, January 26th. The company reported $1.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. The firm earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Praxair had a return on equity of 28.75% and a net margin of 14.24%. Praxair’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 earnings per share. On average, equities analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, March 7th were issued a $0.7875 dividend. This is a positive change from Praxair’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 3rd. This represents a $3.15 annualized dividend and a yield of 2.66%. Praxair’s dividend payout ratio is 57.47%.
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Several research analysts have recently commented on PX shares. Evercore ISI started coverage on Praxair in a report on Monday, February 13th. They set a “sell” rating and a $107.00 price target on the stock. CLSA lowered Praxair from an “outperform” rating to an “underperform” rating in a report on Thursday, December 22nd. Seaport Global Securities lowered Praxair from an “accumulate” rating to a “neutral” rating in a report on Wednesday, February 1st. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a report on Monday, December 19th. Finally, Vertical Group upgraded Praxair from a “sell” rating to a “hold” rating in a report on Thursday, December 15th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $121.90.
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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