Gateway Investment Advisers LLC raised its stake in Praxair, Inc. (NYSE:PX) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,226 shares of the basic materials company’s stock after buying an additional 216 shares during the period. Gateway Investment Advisers LLC’s holdings in Praxair were worth $2,946,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PX. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Praxair by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 252,885 shares of the basic materials company’s stock worth $29,992,000 after buying an additional 6,524 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Praxair by 1.6% in the first quarter. CENTRAL TRUST Co now owns 7,537 shares of the basic materials company’s stock worth $894,000 after buying an additional 116 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Praxair by 4.5% in the first quarter. Manning & Napier Advisors LLC now owns 46,123 shares of the basic materials company’s stock worth $5,469,000 after buying an additional 2,005 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Praxair by 4.7% in the first quarter. Raymond James Trust N.A. now owns 14,663 shares of the basic materials company’s stock worth $1,740,000 after buying an additional 652 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of Praxair by 1.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 247,569 shares of the basic materials company’s stock worth $29,362,000 after buying an additional 4,261 shares during the last quarter. 85.49% of the stock is owned by institutional investors.

Shares of Praxair, Inc. (NYSE:PX) traded down 0.13% during midday trading on Friday, reaching $130.15. 1,143,551 shares of the company’s stock traded hands. The stock has a 50 day moving average of $133.75 and a 200-day moving average of $125.01. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 24.37 and a beta of 0.93.

Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.

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A number of analysts have recently weighed in on the stock. BidaskClub cut shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Monday, July 31st. Vertical Research upgraded shares of Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Vertical Group upgraded shares of Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Praxair currently has an average rating of “Hold” and an average price target of $135.00.

About Praxair

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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