St. James Investment Company LLC increased its stake in Praxair Inc. (NYSE:PX) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,195 shares of the company’s stock after buying an additional 6,438 shares during the period. Praxair makes up approximately 6.4% of St. James Investment Company LLC’s investment portfolio, making the stock its 10th largest position. St. James Investment Company LLC owned about 0.14% of Praxair worth $49,685,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of PX. Great West Life Assurance Co. Can raised its position in shares of Praxair by 1.5% in the third quarter. Great West Life Assurance Co. Can now owns 235,374 shares of the company’s stock valued at $28,410,000 after buying an additional 3,590 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Praxair during the second quarter valued at approximately $34,686,000. Bank of New York Mellon Corp raised its position in shares of Praxair by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 10,859,992 shares of the company’s stock valued at $1,220,555,000 after buying an additional 180,461 shares in the last quarter. PGGM Investments raised its position in shares of Praxair by 12.2% in the second quarter. PGGM Investments now owns 493,421 shares of the company’s stock valued at $55,456,000 after buying an additional 53,601 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in shares of Praxair during the third quarter valued at approximately $3,975,000. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) opened at 116.60 on Thursday. The firm has a market capitalization of $33.28 billion, a price-to-earnings ratio of 22.12 and a beta of 0.95. The stock has a 50 day moving average of $119.13 and a 200-day moving average of $118.49. Praxair Inc. has a one year low of $95.60 and a one year high of $125.00.
Praxair (NYSE:PX) last released its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.01. Praxair had a net margin of 14.46% and a return on equity of 29.92%. The firm earned $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Praxair’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Praxair Inc. will post $5.47 earnings per share for the current fiscal year.
PX has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. CLSA lowered shares of Praxair from an “outperform” rating to an “underperform” rating in a report on Thursday, December 22nd. Bank of America Corp. upgraded shares of Praxair from an “underperform” rating to a “neutral” rating in a report on Friday, January 6th. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Praxair in a report on Friday, September 30th. Finally, HSBC initiated coverage on shares of Praxair in a report on Tuesday, November 29th. They issued a “hold” rating and a $113.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $118.57.
In related news, insider Anne K. Roby sold 17,103 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $117.40, for a total value of $2,007,892.20. Following the completion of the sale, the insider now directly owns 19,337 shares in the company, valued at $2,270,163.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Monday, 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 sale, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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