Ontario Teachers Pension Plan Board decreased its holdings in shares of Praxair, Inc. (NYSE:PX) by 49.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,005 shares of the basic materials company’s stock after selling 294,072 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.10% of Praxair worth $39,235,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PX. AKO Capital LLP grew its holdings in shares of Praxair by 23.9% during the first quarter. AKO Capital LLP now owns 363,478 shares of the basic materials company’s stock worth $43,108,000 after buying an additional 70,094 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Praxair by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock worth $1,292,964,000 after buying an additional 48,313 shares in the last quarter. AMG Funds LLC grew its holdings in shares of Praxair by 0.5% during the first quarter. AMG Funds LLC now owns 22,649 shares of the basic materials company’s stock worth $2,686,000 after buying an additional 115 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Praxair by 340.0% during the first quarter. BNP Paribas Arbitrage SA now owns 267,130 shares of the basic materials company’s stock worth $31,682,000 after buying an additional 206,414 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Praxair by 19.9% during the first quarter. Xact Kapitalforvaltning AB now owns 47,710 shares of the basic materials company’s stock worth $5,658,000 after buying an additional 7,910 shares in the last quarter. 85.33% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/09/26/ontario-teachers-pension-plan-board-reduces-stake-in-praxair-inc-px.html.

Praxair, Inc. (NYSE:PX) traded up 0.3253% on Tuesday, reaching $138.1480. 633,875 shares of the company’s stock were exchanged. The company has a market capitalization of $39.51 billion, a PE ratio of 25.8704 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $140.64. The company has a 50 day moving average price of $131.77 and a 200-day moving average price of $128.42.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.

A number of research firms have recently issued reports on PX. Vertical Research raised shares of Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $138.00.

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.

Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).

Institutional Ownership by Quarter for Praxair (NYSE:PX)

Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.