Praxair Inc. (PX) Shares Sold by M&T Bank Corp
M&T Bank Corp reduced its stake in shares of Praxair Inc. (NYSE:PX) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,433 shares of the company’s stock after selling 6,306 shares during the period. M&T Bank Corp’s holdings in Praxair were worth $7,543,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Capital World Investors raised its position in Praxair by 1.4% in the second quarter. Capital World Investors now owns 29,776,847 shares of the company’s stock worth $3,346,620,000 after buying an additional 408,372 shares in the last quarter. Vanguard Group Inc. raised its position in Praxair by 2.0% in the second quarter. Vanguard Group Inc. now owns 19,864,576 shares of the company’s stock worth $2,232,580,000 after buying an additional 383,804 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $1,220,555,000 after buying an additional 180,461 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Praxair by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,448,047 shares of the company’s stock worth $837,086,000 after buying an additional 136,896 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Praxair by 0.3% in the second quarter. Capital Research Global Investors now owns 4,989,589 shares of the company’s stock worth $560,780,000 after buying an additional 14,289 shares in the last quarter. 81.45% of the stock is currently owned by institutional investors.
Praxair Inc. (NYSE:PX) traded up 3.34% on Tuesday, reaching $122.66. 2,867,848 shares of the company’s stock traded hands. Praxair Inc. has a 12 month low of $95.60 and a 12 month high of $125.00. The firm’s 50-day moving average is $117.60 and its 200 day moving average is $116.55. The firm has a market cap of $35.01 billion, a PE ratio of 23.27 and a beta of 0.95.
Praxair (NYSE:PX) last announced its quarterly earnings results 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 return on equity of 29.92% and a net margin of 14.46%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Praxair Inc. will post $5.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, December 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, December 5th. Praxair’s payout ratio is 56.82%.
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PX has been the topic of a number of analyst reports. HSBC initiated coverage on shares of Praxair in a research note on Tuesday. They set a “hold” rating and a $113.00 price objective on the stock. increased their price objective on shares of Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating and set a $140.00 price objective on shares of Praxair in a research note on Tuesday, August 16th. Argus reiterated a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Finally, TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Praxair has a consensus rating of “Hold” and an average price target of $118.20.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anne K. Roby sold 17,103 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $117.40, for a total value of $2,007,892.20. Following the transaction, the insider now directly owns 19,337 shares of the company’s stock, valued at approximately $2,270,163.80. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
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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