Neuberger Berman Group LLC lowered its position in Praxair (NYSE:PX) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,173 shares of the basic materials company’s stock after selling 92,983 shares during the period. Neuberger Berman Group LLC’s holdings in Praxair were worth $35,712,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Honeywell International Inc. grew its holdings in shares of Praxair by 7.2% in the 4th quarter. Honeywell International Inc. now owns 148,800 shares of the basic materials company’s stock worth $23,016,000 after acquiring an additional 10,000 shares during the period. Synovus Financial Corp grew its holdings in shares of Praxair by 4.4% in the 4th quarter. Synovus Financial Corp now owns 37,436 shares of the basic materials company’s stock worth $5,782,000 after acquiring an additional 1,582 shares during the period. Jensen Investment Management Inc. grew its holdings in shares of Praxair by 0.6% in the 4th quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock worth $386,945,000 after acquiring an additional 15,176 shares during the period. Aevitas Wealth Management Inc. acquired a new stake in shares of Praxair in the 4th quarter worth approximately $162,000. Finally, First Republic Investment Management Inc. grew its holdings in shares of Praxair by 7.3% in the 4th quarter. First Republic Investment Management Inc. now owns 35,002 shares of the basic materials company’s stock worth $5,414,000 after acquiring an additional 2,384 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.
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PX stock opened at $158.67 on Thursday. Praxair has a 52-week low of $127.36 and a 52-week high of $166.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.77 and a current ratio of 0.94. The firm has a market cap of $45.72 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, June 7th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, June 6th. Praxair’s dividend payout ratio (DPR) is 56.41%.
PX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Wednesday, January 24th. Citigroup reiterated a “buy” rating and set a $188.00 target price on shares of Praxair in a report on Friday, January 26th. Barclays increased their target price on Praxair from $160.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. SunTrust Banks increased their target price on Praxair to $185.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, TheStreet cut Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Praxair presently has a consensus rating of “Buy” and a consensus target price of $166.73.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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