Praxair, Inc. (PX) Stake Decreased by Robshaw & Julian Associates Inc.
Robshaw & Julian Associates Inc. cut its stake in Praxair, Inc. (NYSE:PX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,990 shares of the basic materials company’s stock after selling 39 shares during the period. Praxair makes up 2.3% of Robshaw & Julian Associates Inc.’s holdings, making the stock its 24th largest position. Robshaw & Julian Associates Inc.’s holdings in Praxair were worth $3,180,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in PX. BlackRock Inc. increased its stake in shares of 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 period. State Street Corp increased its stake in shares of Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares during the period. Wellington Management Group LLP increased its stake in shares of Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares during the period. Finally, Parnassus Investments CA increased its stake in shares of 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 period. Institutional investors own 84.86% of the company’s stock.
Praxair, Inc. (PX) opened at 132.42 on Friday. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The company’s 50-day moving average price is $132.28 and its 200 day moving average price is $126.53. The firm has a market capitalization of $37.88 billion, a PE ratio of 24.80 and a beta of 0.93.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $1.39 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.38%. Praxair’s payout ratio is 58.88%.
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PX has been the subject of a number of research reports. Barclays PLC increased their price objective on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $156.00 price objective (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average 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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