Contravisory Investment Management Inc. trimmed its stake in shares of Praxair, Inc. (NYSE:PX) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,980 shares of the basic materials company’s stock after selling 3,944 shares during the quarter. Praxair makes up 2.0% of Contravisory Investment Management Inc.’s portfolio, making the stock its 19th biggest position. Contravisory Investment Management Inc.’s holdings in Praxair were worth $5,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Salem Investment Counselors Inc. boosted its stake in Praxair by 0.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 13 shares during the last quarter. Elkhorn Investments LLC boosted its stake in Praxair by 0.3% during the 2nd quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock valued at $1,206,000 after acquiring an additional 31 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Praxair by 1.3% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock valued at $607,000 after acquiring an additional 58 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its stake in Praxair by 2.2% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,398 shares of the basic materials company’s stock valued at $450,000 after acquiring an additional 74 shares during the last quarter. Finally, FTB Advisors Inc. boosted its stake in Praxair by 2.8% during the 2nd quarter. FTB Advisors Inc. now owns 2,910 shares of the basic materials company’s stock valued at $385,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.

Praxair, Inc. (PX) traded down $1.96 during trading on Thursday, hitting $161.50. 1,745,490 shares of the stock were exchanged, compared to its average volume of 1,976,250. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair, Inc. has a one year low of $115.53 and a one year high of $166.08. The company has a market cap of $46,240.00, a P/E ratio of 28.74, a P/E/G ratio of 2.23 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 (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. equities analysts expect that Praxair, Inc. will post 5.81 EPS for the current year.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

A number of research analysts have commented on PX shares. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a research note on Thursday, January 11th. Jefferies Group restated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. JPMorgan Chase & Co. raised their price target on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Barclays raised their price target on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Finally, UBS Group raised their price target on shares of Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Praxair has an average rating of “Hold” and an average target price of $159.86.

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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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