Coho Partners Ltd. Purchases 14,240 Shares of Praxair, Inc. (PX)

Coho Partners Ltd. grew its holdings in shares of Praxair, Inc. (NYSE:PX) by 776.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,073 shares of the basic materials company’s stock after acquiring an additional 14,240 shares during the quarter. Coho Partners Ltd.’s holdings in Praxair were worth $2,130,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Great Lakes Advisors LLC raised its stake in shares of Praxair by 18.7% in the 2nd quarter. Great Lakes Advisors LLC now owns 19,066 shares of the basic materials company’s stock worth $2,527,000 after buying an additional 2,998 shares in the last quarter. Usca Ria LLC raised its stake in shares of Praxair by 3.1% in the 2nd quarter. Usca Ria LLC now owns 1,997 shares of the basic materials company’s stock worth $265,000 after buying an additional 60 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Praxair by 0.3% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 66,965 shares of the basic materials company’s stock worth $8,876,000 after buying an additional 200 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Praxair by 45.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,078 shares of the basic materials company’s stock worth $1,733,000 after buying an additional 4,060 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

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A number of research firms have recently commented on PX. Susquehanna Bancshares Inc raised Praxair from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $131.00 to $155.00 in a research note on Thursday, September 7th. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $138.00.

Praxair, Inc. (PX) opened at 134.22 on Friday. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The stock has a market cap of $38.39 billion, a P/E ratio of 25.13 and a beta of 0.93. The stock’s 50 day moving average price is $131.52 and its 200-day moving average price is $128.05.

Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. On average, analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s payout ratio is presently 58.88%.

About Praxair

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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