Wendell David Associates Inc. decreased its holdings in shares of Praxair, Inc. (NYSE:PX) by 38.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,870 shares of the basic materials company’s stock after selling 5,505 shares during the period. Wendell David Associates Inc.’s holdings in Praxair were worth $1,239,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Praxair by 30.4% during the third quarter. Assenagon Asset Management S.A. now owns 11,466 shares of the basic materials company’s stock valued at $1,602,000 after purchasing an additional 2,672 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Praxair by 0.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,064,699 shares of the basic materials company’s stock valued at $148,781,000 after purchasing an additional 8,195 shares during the last quarter. Howe & Rusling Inc. increased its stake in Praxair by 1,450.0% during the third quarter. Howe & Rusling Inc. now owns 2,511 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 2,349 shares during the last quarter. Locust Wood Capital Advisers LLC increased its stake in Praxair by 20.7% during the third quarter. Locust Wood Capital Advisers LLC now owns 478,978 shares of the basic materials company’s stock valued at $66,932,000 after purchasing an additional 82,117 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in Praxair by 6.9% during the third quarter. Montrusco Bolton Investments Inc. now owns 91,088 shares of the basic materials company’s stock valued at $12,703,000 after purchasing an additional 5,855 shares during the last quarter. Hedge funds and other institutional investors own 85.30% of the company’s stock.

Praxair, Inc. (NYSE PX) traded up 0.57% during midday trading on Monday, reaching $143.95. 170,021 shares of the company traded hands. The company has a 50-day moving average price of $138.13 and a 200-day moving average price of $132.02. The company has a market cap of $41.17 billion, a price-to-earnings ratio of 26.96 and a beta of 0.95. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $143.96.

Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. On average, analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.

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PX has been the subject of several recent research reports. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. KeyCorp reiterated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Susquehanna Bancshares Inc upgraded shares of Praxair from a “neutral” rating to a “positive” rating and upped their price target for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $138.00.

Praxair Profile

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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