Front Barnett Associates LLC decreased its holdings in Praxair, Inc. (NYSE:PX) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,647 shares of the basic materials company’s stock after selling 1,102 shares during the period. Front Barnett Associates LLC’s holdings in Praxair were worth $8,298,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PX. Kistler Tiffany Companies LLC boosted its stake in Praxair by 149.8% during the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after buying an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Praxair during the second quarter valued at approximately $106,000. Cerebellum GP LLC bought a new position in Praxair during the fourth quarter valued at approximately $128,000. Accident Compensation Corp bought a new position in Praxair during the third quarter valued at approximately $140,000. Finally, San Francisco Sentry Investment Group CA boosted its stake in Praxair by 2,171.1% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock valued at $143,000 after buying an additional 977 shares during the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on PX. TheStreet lowered Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Seaport Global Securities reissued a “hold” rating and set a $165.00 price target on shares of Praxair in a research note on Wednesday, January 31st. Susquehanna Bancshares increased their price target on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, Jefferies Group reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $163.47.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.28%. This is a positive change from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, March 6th. Praxair’s dividend payout ratio (DPR) is presently 72.92%.
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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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