Praxair, Inc. (PX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in Praxair, Inc. (NYSE:PX) by 10.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 513,650 shares of the basic materials company’s stock after selling 57,202 shares during the period. California State Teachers Retirement System owned about 0.18% of Praxair worth $68,085,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after buying an additional 123 shares during the period. Exane Derivatives bought a new stake in shares of Praxair in the second quarter valued at $109,000. Tortoise Investment Management LLC raised its stake in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the period. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the period. Finally, Pacific Center for Financial Services raised its stake in shares of Praxair by 65.7% in the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares during the period. 85.33% of the stock is currently owned by institutional investors and hedge funds.

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Praxair, Inc. (NYSE:PX) traded down 0.20% during mid-day trading on Tuesday, hitting $140.59. The company had a trading volume of 423,138 shares. The company has a market capitalization of $40.21 billion, a price-to-earnings ratio of 26.33 and a beta of 0.95. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $142.97. The firm’s 50 day moving average is $135.67 and its 200 day moving average is $130.70.

Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. On average, equities research analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a dividend of $0.7875 per share. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.24%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.

Several analysts have issued reports on the company. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and boosted their target price for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. KeyCorp restated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have given 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.

About Praxair

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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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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