Lau Associates LLC Purchases New Stake in Praxair, Inc. (PX)
Lau Associates LLC purchased a new position in shares of Praxair, Inc. (NYSE:PX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,436 shares of the basic materials company’s stock, valued at approximately $222,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. UMB Bank N A MO grew its position in Praxair by 220.6% during the 4th quarter. UMB Bank N A MO now owns 74,568 shares of the basic materials company’s stock worth $11,534,000 after purchasing an additional 51,306 shares during the period. Steward Partners Investment Advisory LLC grew its position in Praxair by 13.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,434 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 765 shares during the period. GW&K Investment Management LLC acquired a new stake in Praxair during the 4th quarter worth about $12,839,000. TRUE Private Wealth Advisors acquired a new stake in Praxair during the 4th quarter worth about $228,000. Finally, State of Alaska Department of Revenue grew its position in Praxair by 399.5% during the 4th quarter. State of Alaska Department of Revenue now owns 35,657 shares of the basic materials company’s stock worth $5,513,000 after purchasing an additional 28,519 shares during the period. 85.54% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (NYSE:PX) traded down $1.26 during trading on Tuesday, reaching $160.62. 1,523,400 shares of the company were exchanged, compared to its average volume of 1,922,757. The stock has a market cap of $45,580.00, a price-to-earnings ratio of 28.58, a PEG ratio of 2.22 and a beta of 1.00. Praxair, Inc. has a 1 year low of $115.53 and a 1 year high of $166.08. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.
A number of equities research analysts have recently commented on PX shares. Susquehanna Bancshares raised their target price on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and raised their target price for the company from $155.00 to $175.00 in a research report on Tuesday, December 19th. UBS Group raised their target price on Praxair to $176.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Jefferies Group set a $186.00 target price on Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $159.86.
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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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