Addenda Capital Inc. lessened its holdings in shares of Praxair, Inc. (NYSE:PX) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,048 shares of the basic materials company’s stock after selling 795 shares during the quarter. Addenda Capital Inc.’s holdings in Praxair were worth $2,019,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Praxair by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock valued at $2,757,471,000 after acquiring an additional 523,022 shares during the period. Capital World Investors lifted its holdings in shares of Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after buying an additional 716,835 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Praxair by 1.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP lifted its holdings in shares of Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after buying an additional 655,456 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Praxair by 9.6% in the 3rd quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock worth $416,663,000 after buying an additional 262,050 shares during the period. 85.62% of the stock is currently owned by institutional investors.
Praxair, Inc. (PX) traded down $4.78 during mid-day trading on Friday, reaching $155.05. The company’s stock had a trading volume of 2,041,097 shares, compared to its average volume of 2,167,340. Praxair, Inc. has a one year low of $115.53 and a one year high of $166.95. The firm has a market capitalization of $44,391.59, a PE ratio of 35.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.81 and a current ratio of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.825 per share. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, March 6th. Praxair’s dividend payout ratio (DPR) is currently 72.92%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
Several research firms have recently commented on PX. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. SunTrust Banks reaffirmed a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Citigroup raised Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $137.00 to $168.00 in a research report on Monday, October 30th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and increased their price objective for the company from $155.00 to $175.00 in a report on Tuesday, December 19th. Finally, UBS Group increased their price objective on Praxair to $176.00 and gave the company a “buy” rating in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Praxair currently has a consensus rating of “Buy” and a consensus target price of $163.47.
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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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