Westpac Banking Corp trimmed its holdings in Praxair, Inc. (NYSE:PX) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,151 shares of the basic materials company’s stock after selling 19,880 shares during the period. Westpac Banking Corp’s holdings in Praxair were worth $8,685,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of PX. Capital World Investors grew its stake in Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after acquiring an additional 716,835 shares during the last quarter. Egerton Capital UK LLP grew its stake in Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock valued at $473,016,000 after acquiring an additional 655,456 shares during the last quarter. PointState Capital LP acquired a new stake in Praxair in the 2nd quarter valued at about $76,481,000. Steadfast Capital Management LP acquired a new stake in Praxair in the 2nd quarter valued at about $58,005,000. Finally, Parametric Portfolio Associates LLC grew its stake in Praxair by 51.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 935,576 shares of the basic materials company’s stock valued at $124,011,000 after acquiring an additional 318,715 shares during the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Seaport Global Securities restated a “hold” rating and issued a $165.00 target price on shares of Praxair in a report on Wednesday, January 31st. Susquehanna Bancshares upped their target price on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Finally, Jefferies Group restated a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Praxair currently has an average rating of “Buy” and a consensus price target of $163.47.
Shares of Praxair, Inc. (NYSE:PX) traded up $5.35 during mid-day trading on Friday, hitting $149.48. 3,120,000 shares of the stock traded hands, compared to its average volume of 2,210,000. The stock has a market cap of $42,800.00, a price-to-earnings ratio of 34.60, a P/E/G ratio of 1.95 and a beta of 1.03. Praxair, Inc. has a 1-year low of $115.67 and a 1-year high of $166.95. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.825 per share. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 6th. Praxair’s dividend payout ratio is presently 72.92%.
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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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