Edgemoor Investment Advisors Inc. Takes $211,000 Position in Praxair, Inc. (PX)

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 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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