Shell Asset Management Co. reduced its holdings in shares of Praxair, Inc. (NYSE:PX) by 71.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,541 shares of the basic materials company’s stock after selling 106,762 shares during the quarter. Shell Asset Management Co.’s holdings in Praxair were worth $6,735,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in PX. Kistler Tiffany Companies LLC lifted its stake in shares of Praxair by 149.8% during the 3rd 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 in the last quarter. Cerebellum GP LLC bought a new stake in Praxair during the 4th quarter worth approximately $128,000. Accident Compensation Corp bought a new stake in Praxair during the 3rd quarter worth approximately $140,000. San Francisco Sentry Investment Group CA increased its holdings in Praxair by 2,171.1% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 977 shares during the period. Finally, Bristlecone Advisors LLC bought a new stake in Praxair during the 3rd quarter worth approximately $154,000. Institutional investors own 84.93% of the company’s stock.
A number of analysts recently weighed in on the stock. TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Seaport Global Securities reaffirmed a “hold” rating and set a $165.00 target price on shares of Praxair in a report on Wednesday, January 31st. Susquehanna Bancshares upped their target price on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Praxair in a report on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $167.50.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be issued a $0.825 dividend. This is a positive change from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, March 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.15%. Praxair’s dividend payout ratio is presently 72.92%.
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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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