Atlantic Trust LLC Purchases 775 Shares of Praxair, Inc. (PX)
Atlantic Trust LLC increased its position in shares of Praxair, Inc. (NYSE:PX) by 24.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,975 shares of the basic materials company’s stock after acquiring an additional 775 shares during the period. Atlantic Trust LLC’s holdings in Praxair were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd bought a new position in Praxair during the first quarter valued at about $233,000. Capital Management Corp VA raised its holdings in Praxair by 0.6% during the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after buying an additional 11 shares in the last quarter. Federated Investors Inc. PA raised its holdings in Praxair by 47.3% during the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after buying an additional 3,228 shares in the last quarter. Seven Eight Capital LP bought a new position in Praxair during the second quarter valued at about $1,286,000. Finally, Mosaic Family Wealth LLC raised its holdings in Praxair by 6.3% during the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.
Praxair, Inc. (NYSE PX) traded up 0.24% during trading on Friday, hitting $142.21. The stock had a trading volume of 648,686 shares. The stock has a 50 day moving average price of $136.86 and a 200 day moving average price of $131.29. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of 26.63 and a beta of 0.95. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $142.97.
Praxair (NYSE:PX) last issued 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. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. Equities research analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were issued a $0.7875 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.22%. Praxair’s payout ratio is 58.88%.
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PX has been the topic of several recent research reports. Jefferies Group LLC restated a “buy” rating and set a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, KeyCorp restated a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $138.00.
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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