Praxair (PX) Shares Sold by Fayez Sarofim & Co

Fayez Sarofim & Co lessened its position in Praxair (NYSE:PX) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,111,429 shares of the basic materials company’s stock after selling 28,528 shares during the quarter. Fayez Sarofim & Co’s holdings in Praxair were worth $160,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Praxair by 1.1% in the 4th quarter. BlackRock Inc. now owns 17,780,637 shares of the basic materials company’s stock valued at $2,750,308,000 after purchasing an additional 196,920 shares during the period. Egerton Capital UK LLP increased its position in Praxair by 24.5% during the 4th quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock valued at $651,818,000 after buying an additional 829,003 shares in the last quarter. Geode Capital Management LLC increased its position in Praxair by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,781,294 shares of the basic materials company’s stock valued at $429,239,000 after buying an additional 89,525 shares in the last quarter. Jensen Investment Management Inc. increased its position in Praxair by 0.6% during the 4th quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock valued at $386,945,000 after buying an additional 15,176 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Praxair by 40,275.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,227,898 shares of the basic materials company’s stock valued at $344,611,000 after buying an additional 2,222,380 shares in the last quarter. Institutional investors own 85.75% of the company’s stock.

PX has been the subject of a number of analyst reports. Citigroup reduced their price objective on Praxair from $188.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday, April 10th. Seaport Global Securities reaffirmed a “hold” rating and set a $165.00 price objective on shares of Praxair in a research report on Wednesday, January 31st. ValuEngine lowered Praxair from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. TheStreet raised Praxair from a “c+” rating to an “a-” rating in a research report on Thursday, April 26th. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $166.73.

Praxair opened at $159.21 on Wednesday, MarketBeat Ratings reports. The firm has a market capitalization of $46.08 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. Praxair has a 12 month low of $127.36 and a 12 month high of $166.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.77.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, June 7th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, June 6th. Praxair’s payout ratio is 56.41%.

Praxair Profile

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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