Praxair, Inc. (PX) Shares Bought by Norinchukin Bank The

Norinchukin Bank The lifted its stake in Praxair, Inc. (NYSE:PX) by 12.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,110 shares of the basic materials company’s stock after purchasing an additional 6,214 shares during the quarter. Norinchukin Bank The’s holdings in Praxair were worth $8,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Greenleaf Trust increased its holdings in Praxair by 4.5% in the fourth quarter. Greenleaf Trust now owns 8,194 shares of the basic materials company’s stock worth $1,267,000 after buying an additional 351 shares during the last quarter. Bessemer Group Inc. grew its holdings in Praxair by 6.9% during the fourth quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock valued at $849,000 after purchasing an additional 352 shares during the last quarter. Abbrea Capital LLC grew its holdings in Praxair by 13.0% during the first quarter. Abbrea Capital LLC now owns 3,179 shares of the basic materials company’s stock valued at $459,000 after purchasing an additional 365 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Praxair by 0.9% during the fourth quarter. Jones Financial Companies Lllp now owns 43,663 shares of the basic materials company’s stock valued at $6,754,000 after purchasing an additional 371 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Praxair by 3.3% during the fourth quarter. OppenheimerFunds Inc. now owns 11,999 shares of the basic materials company’s stock valued at $1,856,000 after purchasing an additional 379 shares during the last quarter. 85.75% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on PX. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Monday, May 21st. Citigroup increased their price target on Praxair from $163.00 to $177.00 and gave the company a “buy” rating in a report on Monday, April 30th. Seaport Global Securities reiterated a “hold” rating and set a $165.00 price target on shares of Praxair in a report on Wednesday, January 31st. JPMorgan Chase & Co. reiterated a “buy” rating and set a $179.00 price target on shares of Praxair in a report on Friday, April 27th. Finally, TheStreet upgraded Praxair from a “c+” rating to an “a-” rating in a report on Thursday, April 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Praxair presently has an average rating of “Buy” and a consensus price target of $166.73.

PX opened at $157.07 on Monday. Praxair, Inc. has a 1-year low of $127.36 and a 1-year high of $166.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.77. The company 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 posted its quarterly earnings data on Thursday, April 26th. The basic materials company reported $1.65 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $2.93 billion. sell-side analysts predict that Praxair, Inc. will post 6.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, June 7th will be given 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 dividend payout ratio is 56.41%.

About Praxair

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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