Edgemoor Investment Advisors Inc. acquired a new stake in shares of Praxair, Inc. (NYSE:PX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,300 shares of the basic materials company’s stock, valued at approximately $211,000.
Several other large investors also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Praxair by 1.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock valued at $683,156,000 after acquiring an additional 77,300 shares during the period. Egerton Capital UK LLP boosted its stake in 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 purchasing an additional 655,456 shares during the period. Capital International Investors boosted its stake in 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 purchasing an additional 262,050 shares during the period. Jensen Investment Management Inc. boosted its stake in Praxair by 0.6% in the 4th quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock worth $386,945,000 after purchasing an additional 15,176 shares during the period. Finally, CI Global Investments Inc. boosted its stake in Praxair by 0.8% in the 4th quarter. CI Global Investments Inc. now owns 1,993,569 shares of the basic materials company’s stock worth $308,365,000 after purchasing an additional 16,699 shares during the period. Institutional investors own 84.86% of the company’s stock.
PX has been the subject of several recent analyst reports. Susquehanna Bancshares upped their price target on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and upped their price target for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. UBS Group upped their price target on Praxair to $176.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Jefferies Group set a $186.00 price target on Praxair and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $163.47.
Shares of Praxair, Inc. (PX) opened at $149.48 on Monday. Praxair, Inc. has a twelve month low of $115.67 and a twelve month high of $166.95. The firm has a market capitalization of $42,796.91, a price-to-earnings ratio of 34.60, a P/E/G ratio of 1.95 and a beta of 1.03. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio is presently 72.92%.
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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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