Greenhaven Associates Inc. Reduces Stake in Praxair, Inc. (PX)

Greenhaven Associates Inc. cut its stake in Praxair, Inc. (NYSE:PX) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,051 shares of the basic materials company’s stock after selling 10,710 shares during the period. Praxair accounts for approximately 0.1% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 20th largest holding. Greenhaven Associates Inc.’s holdings in Praxair were worth $6,435,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sandy Spring Bank boosted its position in shares of Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC boosted its position in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of Praxair in the 2nd quarter valued at $106,000. Finally, Exane Derivatives purchased a new stake in Praxair in the 2nd quarter worth about $109,000. 85.31% of the stock is owned by institutional investors.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Shares of Praxair, Inc. (PX) opened at $148.28 on Friday. The company has a market capitalization of $42,504.89, a PE ratio of 25.86, a PEG ratio of 2.21 and a beta of 0.99. Praxair, Inc. has a twelve month low of $115.00 and a twelve month high of $150.25. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22.

Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.12%. Praxair’s payout ratio is presently 56.05%.

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PX has been the subject of several research analyst reports. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Susquehanna Bancshares Inc raised Praxair from a “neutral” rating to a “positive” rating and increased their price objective for the company from $131.00 to $155.00 in a report on Thursday, September 7th. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Thursday, October 19th. Finally, BidaskClub lowered Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Praxair currently has a consensus rating of “Hold” and an average price target of $148.62.

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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