Synovus Financial Corp lifted its stake in shares of Praxair, Inc. (NYSE:PX) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,436 shares of the basic materials company’s stock after purchasing an additional 1,582 shares during the quarter. Synovus Financial Corp’s holdings in Praxair were worth $5,782,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Egerton Capital UK LLP increased its stake in Praxair by 24.5% in the 4th quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock worth $651,818,000 after acquiring an additional 829,003 shares during the last quarter. Schroder Investment Management Group increased its stake in Praxair by 593.7% in the 4th quarter. Schroder Investment Management Group now owns 743,441 shares of the basic materials company’s stock worth $114,995,000 after acquiring an additional 636,277 shares during the last quarter. Governors Lane LP bought a new position in Praxair in the 4th quarter worth about $70,318,000. Canada Pension Plan Investment Board increased its stake in Praxair by 92.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 560,381 shares of the basic materials company’s stock worth $78,308,000 after acquiring an additional 269,000 shares during the last quarter. Finally, Capital International Investors increased its stake in 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 acquiring an additional 262,050 shares during the last quarter. Institutional investors own 84.93% of the company’s stock.
PX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, November 6th. Deutsche Bank upgraded 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 research report on Tuesday, December 19th. Jefferies Group set a $186.00 price objective on Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research report on Monday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $167.50.
Praxair, Inc. (PX) opened at $152.84 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $43,979.36, a PE ratio of 35.56, a PEG ratio of 2.00 and a beta of 1.03. Praxair, Inc. has a 1 year low of $115.67 and a 1 year high of $166.95.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.825 per share. The ex-dividend date is Tuesday, March 6th. This is a boost from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 annualized dividend and a yield of 2.16%. Praxair’s dividend payout ratio is currently 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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