Commonwealth Equity Services Inc Trims Stake in Praxair, Inc. (PX)

Commonwealth Equity Services Inc cut its stake in shares of Praxair, Inc. (NYSE:PX) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,482 shares of the basic materials company’s stock after selling 3,200 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Praxair were worth $5,377,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PX. Dynamo Internacional Gestao DE Recursos LTDA. increased its position in shares of Praxair by 6.7% during the first quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 1,356,369 shares of the basic materials company’s stock worth $160,654,000 after acquiring an additional 85,100 shares during the period. Logan Capital Management Inc. increased its position in shares of Praxair by 0.9% during the first quarter. Logan Capital Management Inc. now owns 8,505 shares of the basic materials company’s stock worth $1,009,000 after acquiring an additional 72 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Praxair by 1.4% during the first quarter. Oppenheimer & Co. Inc. now owns 35,555 shares of the basic materials company’s stock worth $4,217,000 after acquiring an additional 481 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Praxair during the first quarter worth approximately $3,243,000. Finally, Bank of America Corp DE increased its position in shares of Praxair by 7.7% during the first quarter. Bank of America Corp DE now owns 2,058,051 shares of the basic materials company’s stock worth $244,086,000 after acquiring an additional 147,306 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

PX has been the topic of several research reports. UBS AG lifted their price objective on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Citigroup Inc. raised shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $137.00 to $168.00 in a report on Monday, October 30th. Finally, Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $131.00 to $155.00 in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Praxair currently has an average rating of “Hold” and a consensus target price of $151.36.

Shares of Praxair, Inc. (NYSE:PX) traded up $1.60 on Friday, reaching $150.64. 2,919,280 shares of the company’s stock traded hands, compared to its average volume of 1,466,682. The firm has a market capitalization of $43,128.98, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99. Praxair, Inc. has a 52 week low of $115.00 and a 52 week high of $151.44. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22.

Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. research analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.09%. Praxair’s dividend payout ratio (DPR) is 56.05%.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

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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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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