Public Employees Retirement Association of Colorado cut its stake in shares of Praxair, Inc. (NYSE:PX) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 215,888 shares of the basic materials company’s stock after selling 76 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Praxair were worth $28,616,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares in the last quarter. State Street Corp increased its position in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares in the last quarter. Bank of New York Mellon Corp increased its position in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares in the last quarter. Wellington Management Group LLP increased its position in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares in the last quarter. Finally, Parnassus Investments CA increased its position in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The company has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm’s 50-day moving average is $132.46 and its 200 day moving average is $125.54.

Praxair (NYSE:PX) last announced its quarterly earnings results 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. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 28.73% and a net margin of 14.43%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 earnings per share. On average, equities analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.

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PX has been the topic of several recent analyst reports. Barclays PLC raised their price target on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Monday, July 31st. BidaskClub downgraded shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Praxair currently has a consensus 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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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