Douglass Winthrop Advisors LLC lessened its stake in Praxair, Inc. (NYSE:PX) by 5.4% in the third quarter, Holdings Channel reports. The fund owned 14,664 shares of the basic materials company’s stock after selling 845 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Praxair were worth $2,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PX. Rathbone Brothers plc purchased a new position in Praxair during the 3rd quarter valued at about $1,303,000. BLB&B Advisors LLC increased its holdings in Praxair by 29.2% during the 3rd quarter. BLB&B Advisors LLC now owns 5,148 shares of the basic materials company’s stock valued at $827,000 after purchasing an additional 1,163 shares during the period. KAMES CAPITAL plc increased its holdings in Praxair by 18.6% during the 3rd quarter. KAMES CAPITAL plc now owns 423,007 shares of the basic materials company’s stock valued at $67,990,000 after purchasing an additional 66,209 shares during the period. Vigilant Capital Management LLC increased its holdings in Praxair by 0.8% during the 3rd quarter. Vigilant Capital Management LLC now owns 84,057 shares of the basic materials company’s stock valued at $13,510,000 after purchasing an additional 690 shares during the period. Finally, Iberiabank Corp purchased a new position in Praxair during the 3rd quarter valued at about $268,000. 86.27% of the stock is owned by institutional investors.

PX stock opened at $156.24 on Friday. Praxair, Inc. has a fifty-two week low of $139.54 and a fifty-two week high of $169.75. The company has a current ratio of 0.96, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. The company has a market cap of $46.22 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.91 and a beta of 1.08.

Praxair (NYSE:PX) last posted its earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that Praxair, Inc. will post 6.77 EPS for the current year.

A number of research analysts recently issued reports on PX shares. JPMorgan Chase & Co. boosted their price target on Praxair from $179.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, June 15th. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine downgraded Praxair from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Citigroup boosted their price target on Praxair from $177.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Finally, BMO Capital Markets restated a “hold” rating and set a $164.00 price target on shares of Praxair in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $175.38.

About Praxair

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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