Praxair, Inc. (PX) Stake Lessened by Huntington National Bank

Huntington National Bank reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,224 shares of the basic materials company’s stock after selling 505 shares during the quarter. Huntington National Bank owned approximately 0.05% of Praxair worth $23,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Boston Research & Management Inc. raised its holdings in shares of Praxair by 1.7% in the second quarter. Boston Research & Management Inc. now owns 17,670 shares of the basic materials company’s stock valued at $2,794,000 after acquiring an additional 300 shares in the last quarter. James Hambro & Partners raised its holdings in shares of Praxair by 2.6% in the second quarter. James Hambro & Partners now owns 12,025 shares of the basic materials company’s stock valued at $1,902,000 after acquiring an additional 310 shares in the last quarter. Ipswich Investment Management Co. Inc. raised its holdings in shares of Praxair by 2.1% in the third quarter. Ipswich Investment Management Co. Inc. now owns 15,609 shares of the basic materials company’s stock valued at $2,509,000 after acquiring an additional 316 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Praxair by 2.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 14,250 shares of the basic materials company’s stock valued at $2,254,000 after acquiring an additional 323 shares in the last quarter. Finally, Catawba Capital Management VA raised its holdings in shares of Praxair by 3.5% in the second quarter. Catawba Capital Management VA now owns 9,667 shares of the basic materials company’s stock valued at $1,529,000 after acquiring an additional 325 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Shares of Praxair stock opened at $161.36 on Friday. The stock has a market capitalization of $45.95 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.90 and a beta of 1.08. The company has a quick ratio of 0.78, a current ratio of 0.96 and a debt-to-equity ratio of 1.11. Praxair, Inc. has a one year low of $139.54 and a one year high of $169.75.

Praxair (NYSE:PX) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.02. Praxair had a net margin of 11.68% and a return on equity of 27.84%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Praxair, Inc. will post 6.77 EPS for the current year.

PX has been the subject of several recent research reports. ValuEngine downgraded Praxair from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Citigroup boosted their target price on shares of Praxair from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. BMO Capital Markets reiterated a “hold” rating and issued a $164.00 target price on shares of Praxair in a report on Tuesday, July 17th. Finally, Jefferies Financial Group reiterated a “$165.03” rating and issued a $194.00 target price on shares of Praxair in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $175.38.

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.

Further Reading: Index Funds

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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