Synovus Financial Corp Has $5.78 Million Position in Praxair, Inc. (PX)

Synovus Financial Corp boosted its stake in shares of Praxair, Inc. (NYSE:PX) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,436 shares of the basic materials company’s stock after acquiring an additional 1,582 shares during the quarter. Synovus Financial Corp’s holdings in Praxair were worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of PX. BlackRock Inc. lifted its holdings in Praxair by 1.1% in the 4th quarter. BlackRock Inc. now owns 17,780,637 shares of the basic materials company’s stock worth $2,750,308,000 after buying an additional 196,920 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Praxair by 1.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP lifted its holdings in Praxair by 24.5% in the 4th quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock worth $651,818,000 after buying an additional 829,003 shares during the period. Capital International Investors lifted its holdings in Praxair by 9.6% in the 3rd quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock worth $416,663,000 after buying an additional 262,050 shares during the period. Finally, Jensen Investment Management Inc. lifted its holdings in Praxair by 0.6% in the 4th quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock worth $386,945,000 after buying an additional 15,176 shares during the period. Institutional investors own 84.93% of the company’s stock.

Several research firms have weighed in on PX. TheStreet cut Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Barclays increased their price objective on Praxair from $160.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Seaport Global Securities reiterated a “hold” rating and issued a $165.00 price objective on shares of Praxair in a report on Wednesday, January 31st. Citigroup reiterated a “buy” rating and issued a $188.00 price objective on shares of Praxair in a report on Friday, January 26th. Finally, SunTrust Banks increased their price objective on Praxair to $185.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Praxair presently has an average rating of “Buy” and a consensus price target of $167.50.

Praxair, Inc. (NYSE PX) opened at $152.84 on Tuesday. Praxair, Inc. has a 52-week low of $115.67 and a 52-week high of $166.95. The stock has a market capitalization of $43,979.36, a P/E ratio of 35.56, a PEG ratio of 2.00 and a beta of 1.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be given a $0.825 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 annualized dividend and a dividend yield of 2.16%. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio is currently 72.92%.

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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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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