Suntrust Banks Inc. lessened its holdings in Praxair, Inc. (NYSE:PX) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,600 shares of the basic materials company’s stock after selling 19,351 shares during the period. Suntrust Banks Inc.’s holdings in Praxair were worth $20,974,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Greenleaf Trust lifted its position in Praxair by 4.5% during the 4th quarter. Greenleaf Trust now owns 8,194 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 351 shares during the last quarter. Bessemer Group Inc. lifted its position in Praxair by 6.9% during the 4th quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock worth $849,000 after acquiring an additional 352 shares during the last quarter. Advisor Partners LLC lifted its position in Praxair by 6.5% during the 4th quarter. Advisor Partners LLC now owns 5,839 shares of the basic materials company’s stock worth $945,000 after acquiring an additional 357 shares during the last quarter. Pennsylvania Trust Co lifted its position in Praxair by 1.6% during the 4th quarter. Pennsylvania Trust Co now owns 23,225 shares of the basic materials company’s stock worth $3,592,000 after acquiring an additional 363 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its position in Praxair by 0.3% during the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 131,701 shares of the basic materials company’s stock worth $18,404,000 after acquiring an additional 367 shares during the last quarter. 84.93% of the stock is owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE:PX) opened at $153.54 on Wednesday. Praxair, Inc. has a twelve month low of $115.67 and a twelve month high of $166.95. 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 stock has a market cap of $43,979.36, a PE ratio of 35.56, a PEG ratio of 2.00 and a beta of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.825 per share. This is an increase from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 annualized dividend and a dividend yield of 2.15%. Praxair’s payout ratio is presently 72.92%.
PX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Monday, November 6th. Deutsche Bank raised shares of Praxair from a “hold” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, December 19th. Jefferies Group set a $186.00 target price on shares of Praxair and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Argus raised shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Monday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $167.50.
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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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