Investors sold shares of Praxair, Inc. (NYSE:PX) on strength during trading on Friday. $54.39 million flowed into the stock on the tick-up and $143.35 million flowed out of the stock on the tick-down, for a money net flow of $88.96 million out of the stock. Of all stocks tracked, Praxair had the 0th highest net out-flow for the day. Praxair traded up $0.34 for the day and closed at $164.15
A number of research firms have recently issued reports on PX. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research report on Thursday. Deutsche Bank raised shares of Praxair from a “hold” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. Jefferies Group set a $186.00 price objective on shares of Praxair and gave the stock a “buy” rating in a research note on Monday, December 11th. Barclays raised their price objective on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $159.86.
The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $46,996.96, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00.
Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. equities analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, December 7th were paid a $0.7875 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 1.92%. Praxair’s payout ratio is currently 56.05%.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC boosted its holdings in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares during the last quarter. BB&T Investment Services Inc. acquired a new position in shares of Praxair in the 2nd quarter valued at $106,000. Pacific Center for Financial Services boosted its holdings in shares of Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of Praxair by 7.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 916 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 60 shares during the last quarter. Finally, Accident Compensation Corp acquired a new position in shares of Praxair in the 3rd quarter valued at $140,000. 85.48% of the stock is owned by hedge funds and other institutional investors.
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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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