BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Praxair, Inc. (NYSE:PX) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,690 shares of the basic materials company’s stock after selling 1,325 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Praxair worth $20,359,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of PX. Kistler Tiffany Companies LLC boosted its position in Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after buying an additional 430 shares during the period. Parallel Advisors LLC boosted its position in Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares during the period. BB&T Investment Services Inc. acquired a new stake in Praxair during the 2nd quarter worth approximately $106,000. Tortoise Investment Management LLC boosted its position in Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares during the period. Finally, Pacific Center for Financial Services boosted its position in Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after buying an additional 356 shares during the period. Institutional investors own 86.43% of the company’s stock.
Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. J P Morgan Chase & Co lifted their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Susquehanna Bancshares raised their price target on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Finally, Argus upgraded shares of 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Praxair presently has a consensus rating of “Hold” and a consensus price target of $154.31.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business earned $1.41 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. equities research analysts expect that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.09%. Praxair’s dividend payout ratio is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on 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 sale, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
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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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