UBS AG upgraded shares of Praxair, Inc. (NYSE:PX) from a neutral rating to a positive rating in a research report report published on Thursday, September 7th, The Fly reports.
Several other equities analysts have also issued reports on PX. BidaskClub upgraded shares of Praxair from a sell rating to a hold rating in a report on Thursday, August 17th. Zacks Investment Research lowered shares of Praxair from a hold rating to a sell rating in a report on Tuesday, July 4th. Vertical Research upgraded shares of Praxair to a hold rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Vertical Group upgraded shares of Praxair to a hold rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, Jefferies Group LLC restated a buy rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $138.00.
Praxair (NYSE PX) traded up 0.10% during mid-day trading on Thursday, hitting $134.22. The stock had a trading volume of 1,840,131 shares. Praxair has a one year low of $114.43 and a one year high of $138.69. The stock’s 50 day moving average price is $131.52 and its 200 day moving average price is $128.05. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 25.13 and a beta of 0.93.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $1.39 earnings per share. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Praxair will post $5.47 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Wednesday, September 6th. Praxair’s payout ratio is 58.88%.
A number of institutional investors have recently modified their holdings of PX. BlackRock Inc. boosted its holdings in Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after buying an additional 16,839,374 shares during the period. Parnassus Investments CA boosted its holdings in Praxair by 48.5% in the 1st quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after buying an additional 2,091,079 shares during the period. Renaissance Technologies LLC boosted its holdings in Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after buying an additional 1,158,100 shares during the period. CI Global Investments Inc. boosted its holdings in Praxair by 141.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after buying an additional 1,132,606 shares during the period. Finally, Capital World Investors boosted its holdings in Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after buying an additional 716,835 shares during the period. 85.34% of the stock is owned by institutional investors.
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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