Beacon Financial Group buys $2.7 Million stake in Praxair (PX)

Praxair (PX) : Beacon Financial Group scooped up 9,294 additional shares in Praxair during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 23,232 shares of Praxair which is valued at $2.7 Million.Praxair makes up approximately 0.58% of Beacon Financial Group’s portfolio.

On the company’s financial health, Praxair reported $1.47 EPS for the quarter, based on the information available during the earnings call on Jan 29, 2016. Analyst had a consensus estimate of $1.47. The company had revenue of $2595.00 million for the quarter, compared to analysts expectations of $2655.70 million. The company’s revenue was down -13.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.57 EPS.

Many Wall Street Analysts have commented on Praxair. Company shares were Downgraded by Deutsche Bank on Apr 4, 2016 to ” Hold”, Firm has raised the Price Target to $ 120 from a previous price target of $114 .Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 117 from a previous price target of $107 .Praxair was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Feb 2, 2016.

Praxair opened for trading at $112.77 and hit $113.45 on the upside on Monday, eventually ending the session at $112.74, with a gain of 0.39% or 0.44 points. The heightened volatility saw the trading volume jump to 9,19,940 shares. Company has a market cap of $32,112 M.

Praxair Inc. (Praxair) is an industrial gas supplier in North and South America Asia and Europe. 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 Praxair operates its surface technologies business through its wholly owned subsidiary Praxair Surface Technologies Inc. which represents the fifth segment. The Company’s products in its industrial gases business include atmospheric gases (oxygen nitrogen argon rare gases) and process gases (carbon dioxide helium hydrogen electronic gases specialty gases acetylene). The company also designs engineers and builds equipment that produces industrial gases primarily for internal use. The company’s surface technologies segment operated through Praxair Surface Technologies Inc. supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

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