St. James Investment Company LLC Has $25.11 Million Position in Praxair, Inc. (PX)
St. James Investment Company LLC lowered its stake in shares of Praxair, Inc. (NYSE:PX) by 49.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,461 shares of the basic materials company’s stock after selling 186,604 shares during the period. Praxair comprises 3.1% of St. James Investment Company LLC’s holdings, making the stock its 13th largest position. St. James Investment Company LLC owned about 0.07% of Praxair worth $25,113,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. Parnassus Investments CA increased its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Renaissance Technologies LLC increased its stake in Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the last quarter. CI Global Investments Inc. bought a new stake in Praxair during the first quarter valued at $95,019,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Praxair during the first quarter valued at $55,637,000. 84.86% of the stock is owned by institutional investors.
Shares of Praxair, Inc. (PX) opened at 131.21 on Tuesday. The company has a 50 day moving average price of $132.34 and a 200 day moving average price of $126.22. The company has a market cap of $37.53 billion, a PE ratio of 24.57 and a beta of 0.93. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm earned $1.39 EPS. Praxair’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
PX has been the subject of several research analyst reports. BidaskClub raised shares of Praxair from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target on the stock in a research report on Monday, July 31st. Finally, Barclays PLC boosted their price target on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Praxair currently has a consensus rating of “Hold” and a consensus price target of $135.00.
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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