NN Investment Partners Holdings N.V. cut its stake in Praxair, Inc. (NYSE:PX) by 10.5% during the second quarter, Holdings Channel reports. The institutional investor owned 24,920 shares of the basic materials company’s stock after selling 2,921 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Praxair were worth $3,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PX. Carroll Financial Associates Inc. boosted its stake in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its stake in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Capital Analysts LLC boosted its stake in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares during the last quarter. Finally, First Command Bank boosted its stake in Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock valued at $133,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 85.49% of the company’s stock.

Shares of Praxair, Inc. (PX) traded down 0.13% during trading on Friday, hitting $130.15. The company had a trading volume of 1,143,551 shares. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The stock has a market capitalization of $37.23 billion, a P/E ratio of 24.37 and a beta of 0.93. The firm’s 50 day moving average is $133.75 and its 200-day moving average is $125.01.

Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

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

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

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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