BMO Capital Markets began coverage on shares of Praxair (NYSE:PX) in a report published on Tuesday morning. The brokerage issued a market perform rating and a $159.00 price objective on the basic materials company’s stock.
Several other brokerages also recently weighed in on PX. SunTrust Banks raised their price target on Praxair to $185.00 and gave the stock a buy rating in a report on Friday, January 26th. Barclays lifted their target price on Praxair from $160.00 to $170.00 and gave the stock an equal weight rating in a report on Friday, January 26th. Zacks Investment Research downgraded Praxair from a buy rating to a hold rating in a report on Thursday, January 18th. Citigroup reaffirmed a buy rating and set a $188.00 target price on shares of Praxair in a report on Friday, January 26th. Finally, TheStreet downgraded Praxair from an a- rating to a c+ rating in a report on Thursday, January 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $166.93.
Shares of NYSE PX opened at $144.30 on Tuesday. 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 capitalization of $41,433.81, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. Praxair has a fifty-two week low of $117.11 and a fifty-two week high of $166.95.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th were issued a $0.825 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This is an increase from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 dividend on an annualized basis and a yield of 2.29%. Praxair’s payout ratio is presently 56.41%.
Large investors have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new position in Praxair in the fourth quarter valued at approximately $128,000. M&R Capital Management Inc. lifted its holdings in Praxair by 366.5% in the fourth quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 733 shares during the period. Accident Compensation Corp acquired a new position in Praxair in the third quarter valued at approximately $140,000. San Francisco Sentry Investment Group CA lifted its holdings in Praxair by 2,171.1% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 977 shares during the period. Finally, Aevitas Wealth Management Inc. acquired a new position in Praxair in the fourth quarter valued at approximately $162,000. 86.30% of the stock is owned by institutional investors.
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Praxair Company Profile
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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