New York State Teachers Retirement System reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 431,868 shares of the basic materials company’s stock after selling 22,484 shares during the period. New York State Teachers Retirement System owned 0.15% of Praxair worth $51,220,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Egerton Capital UK LLP increased its stake in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock worth $277,297,000 after buying an additional 215,399 shares in the last quarter. Cribstone Capital Management LLC increased its stake in shares of Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock worth $280,000 after buying an additional 779 shares in the last quarter. Searle & CO. purchased a new stake in shares of Praxair during the fourth quarter worth $250,000. Benin Management CORP increased its stake in shares of Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock worth $1,254,000 after buying an additional 2,675 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in shares of Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock worth $8,719,000 after buying an additional 2,235 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (NYSE PX) opened at 135.62 on Thursday. 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 $133.89 and its 200 day moving average is $123.89. The firm has a market capitalization of $38.70 billion, a P/E ratio of 25.49 and a beta of 0.94.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.
PX has been the topic of a number of analyst reports. Barclays PLC increased their price target on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. BidaskClub downgraded shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $156.00 price target (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Praxair has an average rating of “Hold” and an average price target of $130.77.
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.
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