First Personal Financial Services Sells 648 Shares of Praxair, Inc. (PX)

First Personal Financial Services lowered its position in shares of Praxair, Inc. (NYSE:PX) by 36.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,114 shares of the basic materials company’s stock after selling 648 shares during the period. First Personal Financial Services’ holdings in Praxair were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Praxair by 1.1% during the fourth quarter. BlackRock Inc. now owns 17,780,637 shares of the basic materials company’s stock worth $2,750,308,000 after purchasing an additional 196,920 shares during the period. Franklin Resources Inc. increased its stake in shares of Praxair by 2.1% during the first quarter. Franklin Resources Inc. now owns 5,614,988 shares of the basic materials company’s stock worth $810,243,000 after purchasing an additional 113,554 shares during the period. Egerton Capital UK LLP increased its stake in shares of Praxair by 24.5% during the fourth quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock worth $651,818,000 after purchasing an additional 829,003 shares during the period. Geode Capital Management LLC increased its stake in shares of Praxair by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,781,294 shares of the basic materials company’s stock worth $429,239,000 after purchasing an additional 89,525 shares during the period. Finally, Jensen Investment Management Inc. increased its stake in shares of Praxair by 0.6% during the fourth quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock worth $386,945,000 after purchasing an additional 15,176 shares during the period. Institutional investors own 85.75% of the company’s stock.

Shares of Praxair opened at $157.07 on Monday, according to MarketBeat Ratings. Praxair, Inc. has a 52-week low of $127.36 and a 52-week high of $166.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.77 and a current ratio of 0.94. The firm has a market capitalization of $45.10 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.

Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, April 26th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.09. Praxair had a return on equity of 26.91% and a net margin of 11.27%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.93 billion. equities research analysts expect that Praxair, Inc. will post 6.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, June 7th will be paid a $0.825 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 2.10%. Praxair’s payout ratio is 56.41%.

A number of brokerages have recently weighed in on PX. Seaport Global Securities reiterated a “hold” rating and set a $165.00 target price on shares of Praxair in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Monday, May 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $179.00 price objective on shares of Praxair in a research note on Friday, April 27th. ValuEngine lowered Praxair from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, TheStreet upgraded Praxair from a “c+” rating to an “a-” rating in a research note on Thursday, April 26th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Praxair currently has a consensus rating of “Buy” and an average price target of $166.73.

Praxair Profile

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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