Baird Financial Group Inc. boosted its holdings in Praxair, Inc. (NYSE:PX) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,325 shares of the basic materials company’s stock after acquiring an additional 10,016 shares during the quarter. Baird Financial Group Inc.’s holdings in Praxair were worth $9,795,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in PX. Egerton Capital UK LLP raised its position in Praxair by 24.5% in the fourth 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 in the last quarter. Schroder Investment Management Group raised its position in Praxair by 593.7% in the fourth 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 in the last quarter. Governors Lane LP purchased a new position in Praxair in the fourth quarter worth $70,318,000. Canada Pension Plan Investment Board raised its position in Praxair by 92.3% in the third 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 in the last quarter. Finally, Capital International Investors raised its position in Praxair by 9.6% in the third 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 in the last quarter. Hedge funds and other institutional investors own 84.93% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at $155.62 on Friday. 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 has a market capitalization of $43,996.54, a price-to-earnings ratio of 36.02, a P/E/G ratio of 2.00 and a beta of 1.03. Praxair, Inc. has a 52 week low of $115.67 and a 52 week high of $166.95.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, March 7th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio (DPR) is presently 72.92%.
Several research firms have weighed in on PX. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a report on Monday, January 8th. SunTrust Banks reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a 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 report on Monday, October 30th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and upped their target price for the company from $155.00 to $175.00 in a report on Tuesday, December 19th. Finally, UBS Group upped their target price on Praxair to $176.00 and gave the company a “buy” rating in a report on Friday, December 15th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $167.50.
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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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