Ffcm LLC purchased a new stake in shares of Praxair, Inc. (NYSE:PX) during the fourth quarter, Holdings Channel reports. The fund purchased 12,110 shares of the company’s stock, valued at approximately $1,420,000.
Other hedge funds have also added to or reduced their stakes in the company. Bbva Compass Bancshares Inc. boosted its stake in Praxair by 52.9% in the second quarter. Bbva Compass Bancshares Inc. now owns 21,312 shares of the company’s stock valued at $2,395,000 after buying an additional 7,371 shares during the last quarter. Concert Wealth Management Inc. boosted its stake in Praxair by 6.3% in the second quarter. Concert Wealth Management Inc. now owns 2,213 shares of the company’s stock valued at $252,000 after buying an additional 132 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Praxair by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 10,859,992 shares of the company’s stock valued at $1,220,555,000 after buying an additional 180,461 shares during the last quarter. Everence Capital Management Inc. boosted its stake in Praxair by 13.3% in the second quarter. Everence Capital Management Inc. now owns 15,565 shares of the company’s stock valued at $1,749,000 after buying an additional 1,830 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC boosted its stake in Praxair by 1.9% in the second quarter. Pillar Pacific Capital Management LLC now owns 37,960 shares of the company’s stock valued at $4,266,000 after buying an additional 718 shares during the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE:PX) opened at 117.32 on Wednesday. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 22.52 and a beta of 0.98. The stock has a 50 day moving average price of $117.24 and a 200-day moving average price of $118.62. Praxair, Inc. has a 12 month low of $100.80 and a 12 month high of $125.00.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, January 26th. The company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. Praxair had a return on equity of 28.75% and a net margin of 14.24%. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company earned $1.47 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, March 7th will be paid a dividend of $0.7875 per share. The ex-dividend date of this dividend is Friday, March 3rd. This is a positive change from Praxair’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a yield of 2.68%. Praxair’s dividend payout ratio is presently 57.47%.
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PX has been the topic of several recent analyst reports. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. HSBC Holdings plc initiated coverage on Praxair in a report on Tuesday, November 29th. They set a “hold” rating and a $113.00 price objective on the stock. Vertical Research raised Praxair from a “sell” rating to a “hold” rating and set a $120.00 price objective on the stock in a report on Wednesday, December 14th. Vertical Group raised Praxair from a “sell” rating to a “hold” rating in a report on Thursday, December 15th. Finally, CLSA cut Praxair from an “outperform” rating to an “underperform” rating in a report on Thursday, December 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Praxair has an average rating of “Hold” and an average target price of $119.79.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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