Clinton Group Inc. purchased a new position in Praxair, Inc. (NYSE:PX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,472 shares of the basic materials company’s stock, valued at approximately $237,000.
Several other hedge funds and other institutional investors also recently modified their holdings of PX. Private Capital Group LLC increased its position in shares of Praxair by 394.0% in the first quarter. Private Capital Group LLC now owns 741 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 591 shares during the period. Kaizen Advisory LLC increased its position in shares of Praxair by 140.9% in the second quarter. Kaizen Advisory LLC now owns 677 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 396 shares during the period. Landaas & Co. WI ADV bought a new position in shares of Praxair in the second quarter worth $147,000. Clarus Wealth Advisors bought a new position in shares of Praxair in the second quarter worth $152,000. Finally, Winthrop Partners WNY LLC bought a new position in shares of Praxair in the first quarter worth $170,000. Institutional investors own 86.27% of the company’s stock.
PX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Wednesday, September 26th. Sanford C. Bernstein began coverage on Praxair in a research report on Monday, September 24th. They issued an “underperform” rating and a $132.00 target price on the stock. BNP Paribas began coverage on Praxair in a research report on Tuesday, October 2nd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on Praxair from $179.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, June 15th. Finally, ValuEngine upgraded Praxair from a “hold” rating to a “buy” rating in a research report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $175.38.
Praxair stock opened at $156.24 on Friday. Praxair, Inc. has a 12-month low of $139.54 and a 12-month high of $169.75. The company has a current ratio of 0.96, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.02. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Praxair, Inc. will post 6.77 earnings per share for the current fiscal year.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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