PEAK6 Investments L.P. reduced its holdings in shares of Praxair, Inc. (NYSE:PX) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,744 shares of the basic materials company’s stock after selling 5,256 shares during the quarter. PEAK6 Investments L.P.’s holdings in Praxair were worth $3,827,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PX. Clearbridge Investments LLC boosted its holdings in Praxair by 40,275.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,227,898 shares of the basic materials company’s stock worth $344,611,000 after purchasing an additional 2,222,380 shares during the last quarter. Egerton Capital UK LLP boosted its stake in Praxair by 24.5% in the fourth quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock valued at $651,818,000 after acquiring an additional 829,003 shares during the last quarter. Schroder Investment Management Group boosted its stake in Praxair by 593.7% in the fourth quarter. Schroder Investment Management Group now owns 743,441 shares of the basic materials company’s stock valued at $114,995,000 after acquiring an additional 636,277 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in Praxair by 591.4% in the fourth quarter. State of Tennessee Treasury Department now owns 537,762 shares of the basic materials company’s stock valued at $83,182,000 after acquiring an additional 459,978 shares during the last quarter. Finally, Governors Lane LP purchased a new position in Praxair in the fourth quarter valued at about $70,318,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Seaport Global Securities reissued a “hold” rating and issued a $165.00 price target on shares of Praxair in a research report on Wednesday, January 31st. TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a research report on Thursday, January 25th. SunTrust Banks boosted their price target on shares of Praxair to $185.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Barclays boosted their price target on shares of Praxair from $160.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Praxair presently has a consensus rating of “Buy” and an average price target of $167.50.
Praxair, Inc. (PX) opened at $160.47 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81. The stock has a market cap of $46,260.58, a PE ratio of 37.12, a P/E/G ratio of 2.10 and a beta of 1.06. Praxair, Inc. has a 12 month low of $115.67 and a 12 month high of $166.95.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.85 billion. Praxair had a net margin of 10.90% and a return on equity of 26.54%. analysts anticipate that Praxair, Inc. will post 6.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.825 per share. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, March 6th. Praxair’s dividend payout ratio (DPR) is currently 76.39%.
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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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