Factory Mutual Insurance Co. Sells 69,600 Shares of Praxair, Inc. (PX)
Factory Mutual Insurance Co. lessened its holdings in shares of Praxair, Inc. (NYSE:PX) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 326,400 shares of the basic materials company’s stock after selling 69,600 shares during the period. Factory Mutual Insurance Co.’s holdings in Praxair were worth $50,488,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of PX. Kistler Tiffany Companies LLC raised its stake in Praxair by 149.8% during the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after buying an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Praxair during the second quarter worth $106,000. Pacific Center for Financial Services raised its stake in Praxair by 65.7% during the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after buying an additional 356 shares during the last quarter. Accident Compensation Corp bought a new position in Praxair during the third quarter worth $140,000. Finally, Harfst & Associates Inc. raised its stake in Praxair by 43.7% during the second quarter. Harfst & Associates Inc. now owns 1,086 shares of the basic materials company’s stock worth $143,000 after buying an additional 330 shares during the last quarter. Institutional investors own 85.51% of the company’s stock.
Praxair, Inc. (PX) traded up $0.34 on Tuesday, reaching $164.15. 2,644,400 shares of the company’s stock traded hands, compared to its average volume of 1,940,422. Praxair, Inc. has a 12-month low of $115.53 and a 12-month high of $166.08. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $47,000.00, a P/E ratio of 29.21, a P/E/G ratio of 2.26 and a beta of 1.00.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. analysts forecast that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
PX has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research note on Thursday, January 11th. Jefferies Group reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research note on Thursday, October 19th. JPMorgan Chase & Co. lifted their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Barclays lifted their target price on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, UBS Group lifted their target price on shares of Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Praxair has a consensus rating of “Buy” and an average price target of $159.86.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
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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