Geode Capital Management LLC Increases Position in Praxair, Inc. (PX)
Geode Capital Management LLC boosted its stake in Praxair, Inc. (NYSE:PX) by 3.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,781,294 shares of the basic materials company’s stock after buying an additional 89,525 shares during the period. Geode Capital Management LLC’s holdings in Praxair were worth $429,239,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in PX. Cerebellum GP LLC acquired a new position in Praxair in the 4th quarter valued at about $128,000. Accident Compensation Corp acquired a new position in Praxair in the 3rd quarter valued at about $140,000. San Francisco Sentry Investment Group CA grew its stake in Praxair by 2,171.1% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock valued at $143,000 after buying an additional 977 shares during the last quarter. Aevitas Wealth Management Inc. acquired a new position in Praxair in the 4th quarter valued at about $162,000. Finally, Valeo Financial Advisors LLC acquired a new position in Praxair in the 3rd quarter valued at about $169,000. Institutional investors and hedge funds own 84.93% of the company’s stock.
A number of research analysts recently commented on PX shares. Susquehanna Bancshares upped their price target on shares of Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Thursday, January 11th. Argus upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a research note on Monday, November 13th. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and upped their price target for the company from $155.00 to $175.00 in a research note on Tuesday, December 19th. Finally, UBS Group upped their price target on shares of Praxair to $176.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $167.50.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio is presently 72.92%.
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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