FNY Partners Fund LP Acquires New Position in Praxair, Inc. (PX)

FNY Partners Fund LP bought a new stake in Praxair, Inc. (NYSE:PX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,886 shares of the basic materials company’s stock, valued at approximately $4,595,000. Praxair comprises 0.8% of FNY Partners Fund LP’s portfolio, making the stock its 26th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Praxair by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock valued at $2,757,471,000 after buying an additional 523,022 shares during the period. Capital World Investors increased its holdings in shares of Praxair by 4.3% during the second quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after acquiring an additional 716,835 shares in the last quarter. Egerton Capital UK LLP increased its holdings in shares of Praxair by 24.0% during the third quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock valued at $473,016,000 after acquiring an additional 655,456 shares in the last quarter. CI Global Investments Inc. increased its holdings in shares of Praxair by 2.2% during the third quarter. CI Global Investments Inc. now owns 1,976,870 shares of the basic materials company’s stock valued at $276,248,000 after acquiring an additional 43,093 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Praxair by 3.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,538,256 shares of the basic materials company’s stock valued at $203,896,000 after acquiring an additional 56,644 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

Praxair, Inc. (PX) traded down $0.28 on Wednesday, hitting $153.08. The stock had a trading volume of 1,308,100 shares, compared to its average volume of 1,337,371. The stock has a market cap of $43,907.78, a PE ratio of 26.72, a PEG ratio of 2.29 and a beta of 1.00. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. Praxair, Inc. has a 52 week low of $115.00 and a 52 week high of $156.40.

Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. sell-side analysts predict that Praxair, Inc. will post 5.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is presently 56.05%.

PX has been the subject of a number of recent analyst reports. Susquehanna Bancshares upped their price target on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Monday, November 13th. SunTrust Banks reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $154.31.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

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Praxair 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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