Meag Munich Ergo Kapitalanlagegesellschaft MBH Acquires 14,638 Shares of Praxair, Inc. (PX)

Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Praxair, Inc. (NYSE:PX) by 178.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,838 shares of the basic materials company’s stock after buying an additional 14,638 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Praxair were worth $2,699,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PX. Capstone Investment Advisors LLC acquired a new stake in shares of Praxair during the fourth quarter valued at about $667,000. Roystone Capital Management LP acquired a new stake in shares of Praxair during the fourth quarter valued at about $24,938,000. Flinton Capital Management LLC acquired a new stake in shares of Praxair during the fourth quarter valued at about $11,138,000. Marietta Wealth Management LLC acquired a new stake in shares of Praxair during the fourth quarter valued at about $1,187,000. Finally, Azimuth Capital Management LLC increased its stake in shares of Praxair by 15.8% in the fourth quarter. Azimuth Capital Management LLC now owns 3,475 shares of the basic materials company’s stock valued at $407,000 after buying an additional 475 shares during the period. 85.60% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

Praxair, Inc. (NYSE:PX) opened at 132.80 on Monday. The company’s 50-day moving average is $131.66 and its 200 day moving average is $122.03. The firm has a market cap of $37.89 billion, a price-to-earnings ratio of 24.96 and a beta of 0.94. Praxair, Inc. has a 12 month low of $106.31 and a 12 month high of $138.69.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Praxair had a net margin of 14.26% and a return on equity of 28.42%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. On average, equities research analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, June 7th were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, June 5th. Praxair’s dividend payout ratio is currently 59.10%.

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Several analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co reissued an “overweight” rating and issued a $156.00 price objective (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, June 7th. Finally, Vertical Group raised shares of Praxair to a “hold” rating and boosted their price objective for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Praxair currently has an average rating of “Hold” and a consensus target price of $130.77.

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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