American International Group Inc. Acquires 369 Shares of Praxair, Inc. (PX)
American International Group Inc. raised its position in Praxair, Inc. (NYSE:PX) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,705 shares of the basic materials company’s stock after buying an additional 369 shares during the quarter. American International Group Inc.’s holdings in Praxair were worth $26,955,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Praxair in the second quarter valued at $536,000. Janney Montgomery Scott LLC grew its stake in shares of Praxair by 11.6% in the second quarter. Janney Montgomery Scott LLC now owns 35,027 shares of the basic materials company’s stock valued at $5,540,000 after buying an additional 3,649 shares in the last quarter. Visionary Asset Management Inc. acquired a new stake in shares of Praxair in the second quarter valued at $276,000. Conning Inc. grew its stake in shares of Praxair by 0.5% in the second quarter. Conning Inc. now owns 224,980 shares of the basic materials company’s stock valued at $35,581,000 after buying an additional 1,200 shares in the last quarter. Finally, Advisor Partners LLC grew its stake in shares of Praxair by 30.0% in the second quarter. Advisor Partners LLC now owns 7,757 shares of the basic materials company’s stock valued at $1,227,000 after buying an additional 1,791 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on PX. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. BMO Capital Markets lifted their price objective on Praxair from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. BNP Paribas began coverage on Praxair in a research note on Tuesday, October 2nd. They issued a “neutral” rating for the company. Sanford C. Bernstein assumed coverage on Praxair in a research note on Monday, September 24th. They issued an “underperform” rating and a $132.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Praxair from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $175.82.
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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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