California Public Employees Retirement System Purchases 22,663 Shares of Praxair, Inc. (PX)

California Public Employees Retirement System lifted its position in shares of Praxair, Inc. (NYSE:PX) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 785,721 shares of the basic materials company’s stock after purchasing an additional 22,663 shares during the quarter. California Public Employees Retirement System’s holdings in Praxair were worth $121,535,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp boosted its position in shares of Praxair by 1.5% during the fourth quarter. M&T Bank Corp now owns 59,369 shares of the basic materials company’s stock worth $9,183,000 after buying an additional 872 shares during the period. Mendel Money Management acquired a new position in shares of Praxair during the fourth quarter worth about $4,666,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Praxair by 2.4% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,301 shares of the basic materials company’s stock worth $6,820,000 after buying an additional 999 shares during the period. Hedeker Wealth LLC boosted its position in shares of Praxair by 6.8% during the fourth quarter. Hedeker Wealth LLC now owns 15,151 shares of the basic materials company’s stock worth $2,343,000 after buying an additional 967 shares during the period. Finally, Aries Wealth Management acquired a new position in Praxair during the fourth quarter valued at approximately $237,000. 85.60% of the stock is owned by institutional investors.

PX has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research report on Monday, November 6th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and increased their price target for the company from $155.00 to $175.00 in a research report on Tuesday, December 19th. Jefferies Group set a $186.00 price target on Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, UBS Group increased their price target on Praxair to $176.00 and gave the company a “buy” rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $163.47.

Shares of Praxair, Inc. (PX) opened at $149.48 on Friday. Praxair, Inc. has a 52-week low of $115.60 and a 52-week high of $166.95. The stock has a market capitalization of $42,800.00, a P/E ratio of 34.60, a PEG ratio of 1.96 and a beta of 1.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost 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 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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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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