Praxair, Inc. (NYSE:PX) Raised to Positive at UBS AG

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.

About Praxair

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.

The Fly

Analyst Recommendations for Praxair (NYSE:PX)

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