Cubist Systematic Strategies LLC Reduces Stake in Praxair, Inc. (PX)

Cubist Systematic Strategies LLC cut its position in Praxair, Inc. (NYSE:PX) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,045 shares of the basic materials company’s stock after selling 3,394 shares during the period. Cubist Systematic Strategies LLC’s holdings in Praxair were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Praxair by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after acquiring an additional 523,022 shares during the last quarter. Capital World Investors lifted its holdings in shares of Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after acquiring an additional 716,835 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Praxair by 1.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after acquiring an additional 77,300 shares during the last quarter. Egerton Capital UK LLP lifted its holdings in shares of Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after acquiring an additional 655,456 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Praxair by 9.6% in the 3rd quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock worth $416,663,000 after acquiring an additional 262,050 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Several research firms recently commented on PX. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Thursday. Deutsche Bank raised shares of Praxair from a “hold” rating to a “buy” rating and raised their price target for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. Jefferies Group set a $186.00 target price on shares of Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Barclays raised their target price on shares of Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $159.86.

Shares of Praxair, Inc. (NYSE:PX) opened at $163.81 on Friday. 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 12 month low of $115.53 and a 12 month high of $166.08. The company has a market cap of $46,900.00, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00.

Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the 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 net margin of 14.56% and a return on equity of 27.13%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. equities research analysts predict that Praxair, Inc. will post 5.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is 56.05%.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

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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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