National Pension Service Boosts Stake in Praxair, Inc. (PX)

National Pension Service increased its stake in Praxair, Inc. (NYSE:PX) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,513 shares of the basic materials company’s stock after buying an additional 23,801 shares during the period. National Pension Service owned about 0.09% of Praxair worth $32,327,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Carroll Financial Associates Inc. increased its position in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the period. Sandy Spring Bank increased its position in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the period. Capital Analysts LLC increased its position in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares during the period. Finally, First Command Bank increased its position in shares of Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock valued at $133,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Shares of Praxair, Inc. (NYSE:PX) traded down 0.59% during midday trading on Tuesday, hitting $129.45. 210,815 shares of the stock were exchanged. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock’s 50 day moving average is $133.75 and its 200 day moving average is $125.01. The firm has a market cap of $37.03 billion, a P/E ratio of 24.24 and a beta of 0.93.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.42%. Praxair’s dividend payout ratio is 58.88%.

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PX has been the subject of several research reports. BidaskClub cut shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research note on Friday, April 21st. Finally, Barclays PLC boosted their price objective on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $135.00.

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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