Zurich Insurance Group Ltd FI decreased its position in shares of Praxair, Inc. (NYSE:PX) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,734 shares of the basic materials company’s stock after selling 5,410 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Praxair were worth $6,592,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PX. Sandy Spring Bank lifted its position in Praxair by 31.2% during the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its position in Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares during the last quarter. Exane Derivatives acquired a new position in Praxair during the 2nd quarter worth $109,000. Tortoise Investment Management LLC lifted its position in Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services lifted its position in Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 356 shares during the last quarter. 85.33% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on PX shares. BidaskClub raised shares of Praxair from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price for the company in a research report on Monday, July 31st. Finally, Vertical Research raised shares of Praxair to a “hold” rating and boosted their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 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. Praxair has an average rating of “Hold” and an average target price of $138.00.

Praxair, Inc. (PX) traded down 0.94% during mid-day trading on Friday, reaching $139.74. 1,304,296 shares of the company were exchanged. The company’s 50 day moving average price is $131.77 and its 200-day moving average price is $128.42. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of 26.17 and a beta of 0.93. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $141.88.

Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company 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 announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.

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Praxair Company Profile

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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