Cottage Street Advisors LLC purchased a new position in shares of Praxair, Inc. (NYSE:PX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,350 shares of the basic materials company’s stock, valued at approximately $209,000.
A number of other hedge funds also recently modified their holdings of the stock. Pennsylvania Trust Co increased its position in Praxair by 1.6% during the fourth quarter. Pennsylvania Trust Co now owns 23,225 shares of the basic materials company’s stock worth $3,592,000 after purchasing an additional 363 shares during the last quarter. Atria Investments LLC increased its position in shares of Praxair by 36.3% in the fourth quarter. Atria Investments LLC now owns 3,014 shares of the basic materials company’s stock worth $466,000 after acquiring an additional 802 shares in the last quarter. Starfire Investment Advisers Inc. acquired a new stake in shares of Praxair in the fourth quarter worth $415,000. Nisa Investment Advisors LLC increased its position in shares of Praxair by 2.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 109,572 shares of the basic materials company’s stock worth $16,947,000 after acquiring an additional 2,540 shares in the last quarter. Finally, Hikari Power Ltd increased its position in shares of Praxair by 0.5% in the fourth quarter. Hikari Power Ltd now owns 151,740 shares of the basic materials company’s stock worth $23,471,000 after acquiring an additional 720 shares in the last quarter. 85.51% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share 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 the consensus estimate 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 prior year, the firm earned $1.41 earnings per share. research analysts forecast that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Citigroup raised shares of Praxair from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Susquehanna Bancshares increased their price objective on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. UBS Group increased their price objective on shares of Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Barclays increased their price objective on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $159.86.
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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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