Investors bought shares of Praxair (NYSE:PX) on weakness during trading on Monday. $50.69 million flowed into the stock on the tick-up and $21.11 million flowed out of the stock on the tick-down, for a money net flow of $29.58 million into the stock. Of all companies tracked, Praxair had the 32nd highest net in-flow for the day. Praxair traded down ($0.32) for the day and closed at $150.36
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. SunTrust Banks boosted their price objective on shares of Praxair to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Raymond James reissued an “outperform” rating on shares of Praxair in a research note on Tuesday, January 23rd. Finally, ValuEngine raised shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Praxair currently has an average rating of “Buy” and an average price target of $165.27.
The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $43,265.74, a PE ratio of 25.70, a PEG ratio of 1.96 and a beta of 1.08.
Institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC raised its holdings in shares of Praxair by 40,275.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,227,898 shares of the basic materials company’s stock valued at $344,611,000 after purchasing an additional 2,222,380 shares during the last quarter. Egerton Capital UK LLP raised its holdings in shares of Praxair by 24.5% during the fourth quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock valued at $651,818,000 after purchasing an additional 829,003 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Praxair by 593.7% during the fourth quarter. Schroder Investment Management Group now owns 743,441 shares of the basic materials company’s stock valued at $114,995,000 after purchasing an additional 636,277 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Praxair by 591.4% during the fourth quarter. State of Tennessee Treasury Department now owns 537,762 shares of the basic materials company’s stock valued at $83,182,000 after purchasing an additional 459,978 shares during the last quarter. Finally, Governors Lane LP purchased a new position in shares of Praxair during the fourth quarter valued at approximately $70,318,000. 86.33% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This article was originally published by Week Herald and is the property of of Week Herald. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://weekherald.com/2018/04/23/traders-buy-shares-of-praxair-px-on-weakness.html.
Praxair Company Profile
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.
Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with MarketBeat.com's FREE daily email newsletter.