Rhumbline Advisers Trims Position in Praxair, Inc. (PX)

Rhumbline Advisers cut its stake in Praxair, Inc. (NYSE:PX) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 496,925 shares of the basic materials company’s stock after selling 37,553 shares during the period. Rhumbline Advisers owned about 0.17% of Praxair worth $69,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PX. Parallel Advisors LLC lifted its position in Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after buying an additional 430 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Praxair in the second quarter valued at about $106,000. Exane Derivatives purchased a new stake in shares of Praxair in the second quarter valued at about $109,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of the company’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 transaction of $768,053.00. Following the transaction, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

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A number of equities research analysts have recently commented on PX shares. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Finally, Susquehanna Bancshares Inc upgraded shares of Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $131.00 to $155.00 in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Praxair has a consensus rating of “Hold” and a consensus price target of $150.21.

Praxair, Inc. (NYSE:PX) traded down $0.13 during mid-day trading on Monday, hitting $148.15. 1,441,622 shares of the stock traded hands, compared to its average volume of 1,297,022. The firm has a market capitalization of $42,380.00, a price-to-earnings ratio of 25.83, a PEG ratio of 2.21 and a beta of 0.99. Praxair, Inc. has a twelve month low of $115.00 and a twelve month high of $150.25. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22.

Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion for 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%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. sell-side analysts expect that Praxair, Inc. will post 5.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is 56.05%.

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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