Schroder Investment Management Group lifted its position in shares of Praxair, Inc. (NYSE:PX) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,164 shares of the basic materials company’s stock after buying an additional 14,560 shares during the period. Schroder Investment Management Group’s holdings in Praxair were worth $15,117,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares in the last quarter. Kistler Tiffany Companies LLC increased its holdings in Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Praxair in the 2nd quarter valued at $106,000. Tortoise Investment Management LLC increased its holdings in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares in the last quarter. Finally, Pacific Center for Financial Services increased its holdings in Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
Praxair, Inc. (PX) traded down $1.90 during trading hours on Thursday, reaching $150.39. 1,421,200 shares of the company’s stock were exchanged, compared to its average volume of 1,337,728. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The stock has a market cap of $43,827.62, a PE ratio of 26.67, a P/E/G ratio of 2.28 and a beta of 1.00. Praxair, Inc. has a one year low of $115.00 and a one year high of $156.40.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.09%. Praxair’s payout ratio is currently 56.05%.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.
Several brokerages recently issued reports on PX. Barclays increased their price target on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Friday, October 27th. J P Morgan Chase & Co increased their price target on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Susquehanna Bancshares increased their price target on Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $154.31.
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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