VGI PARTNERS PTY Ltd raised its position in Praxair Inc. (NYSE:PX) by 62.7% during the third quarter, Holdings Channel reports. The institutional investor owned 237,290 shares of the company’s stock after buying an additional 91,458 shares during the period. Praxair makes up 7.5% of VGI PARTNERS PTY Ltd’s portfolio, making the stock its 6th largest position. VGI PARTNERS PTY Ltd owned about 0.08% of Praxair worth $28,672,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC boosted its stake in Praxair by 59.7% in the third quarter. First Eagle Investment Management LLC now owns 2,746,481 shares of the company’s stock worth $331,857,000 after buying an additional 1,027,058 shares during the period. Egerton Capital UK LLP purchased a new stake in shares of Praxair during the third quarter valued at approximately $96,741,000. TIAA CREF Investment Management LLC boosted its stake in shares of Praxair by 66.5% in the third quarter. TIAA CREF Investment Management LLC now owns 1,360,379 shares of the company’s stock valued at $164,375,000 after buying an additional 543,349 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Praxair by 234.0% in the third quarter. Neuberger Berman Group LLC now owns 738,651 shares of the company’s stock valued at $89,251,000 after buying an additional 517,484 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in shares of Praxair by 719.0% in the second quarter. Riverhead Capital Management LLC now owns 576,596 shares of the company’s stock valued at $64,803,000 after buying an additional 506,196 shares during the last quarter. 81.36% of the stock is currently owned by hedge funds and other institutional investors.
Praxair Inc. (NYSE:PX) opened at 116.60 on Thursday. The stock’s 50 day moving average is $119.13 and its 200 day moving average is $118.49. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00. The stock has a market capitalization of $33.28 billion, a PE ratio of 22.12 and a beta of 0.95.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.01. Praxair had a net margin of 14.46% and a return on equity of 29.92%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Praxair’s revenue was up 1.1% compared to the same quarter last year. Analysts forecast that Praxair Inc. will post $5.47 EPS for the current year.
Several brokerages recently commented on PX. Vertical Research raised Praxair from a “sell” rating to a “hold” rating and set a $120.00 target price on the stock in a report on Wednesday, December 14th. Vertical Group raised Praxair from a “sell” rating to a “hold” rating in a report on Thursday, December 15th. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a report on Monday, December 19th. Jefferies Group reissued a “buy” rating and set a $140.00 target price on shares of Praxair in a report on Friday, September 30th. Finally, HSBC began coverage on Praxair in a report on Tuesday, November 29th. They set a “hold” rating and a $113.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Praxair currently has an average rating of “Hold” and a consensus target price of $118.57.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anne K. Roby sold 17,103 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $117.40, for a total transaction of $2,007,892.20. Following the completion of the transaction, the insider now owns 19,337 shares in the company, valued at $2,270,163.80. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair Inc. (NYSE:PX).