People s United Financial Inc. lowered its position in Praxair, Inc. (NYSE:PX) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,127 shares of the basic materials company’s stock after selling 184 shares during the quarter. People s United Financial Inc.’s holdings in Praxair were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PX. Sandy Spring Bank lifted its stake in 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 last quarter. Parallel Advisors LLC lifted its stake in Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after buying an additional 123 shares during the last quarter. Exane Derivatives purchased a new stake in Praxair in the second quarter valued at approximately $109,000. Tortoise Investment Management LLC lifted its stake in Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services lifted its stake in Praxair by 65.7% in the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares during the last quarter. Institutional investors own 85.33% of the company’s stock.

A number of equities research analysts have weighed in on PX shares. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $138.00.

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Praxair, Inc. (PX) traded down 0.94% during midday trading on Friday, hitting $139.74. The stock had a trading volume of 1,304,296 shares. The firm has a market cap of $39.97 billion, a PE ratio of 26.17 and a beta of 0.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $141.88. The stock has a 50-day moving average price of $131.77 and a 200 day moving average price of $128.42.

Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a dividend of $0.7875 per share. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.25%. Praxair’s dividend payout ratio is currently 58.88%.

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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