Korea Investment CORP trimmed its stake in shares of Praxair, Inc. (NYSE:PX) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,149 shares of the basic materials company’s stock after selling 4,900 shares during the period. Korea Investment CORP’s holdings in Praxair were worth $14,973,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Praxair by 18.5% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 58,520 shares of the basic materials company’s stock worth $6,940,000 after buying an additional 9,155 shares during the last quarter. Westpac Banking Corp raised its stake in shares of Praxair by 5.1% during the first quarter. Westpac Banking Corp now owns 92,586 shares of the basic materials company’s stock worth $10,596,000 after buying an additional 4,485 shares during the last quarter. ARGI Investment Services LLC raised its stake in shares of Praxair by 0.3% during the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock worth $238,000 after buying an additional 6 shares during the last quarter. Motley Fool Wealth Management LLC raised its stake in shares of Praxair by 75.5% during the first quarter. Motley Fool Wealth Management LLC now owns 4,952 shares of the basic materials company’s stock worth $587,000 after buying an additional 2,130 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in shares of Praxair by 1.7% during the first quarter. BB&T Securities LLC now owns 14,059 shares of the basic materials company’s stock worth $1,667,000 after buying an additional 235 shares during the last quarter. Institutional investors own 85.33% of the company’s stock.

Shares of Praxair, Inc. (NYSE:PX) opened at 147.665 on Tuesday. The stock’s 50 day moving average is $140.30 and its 200 day moving average is $133.38. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $149.91. The company has a market cap of $42.24 billion, a P/E ratio of 27.653 and a beta of 0.95.

Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.06. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be paid a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.14%. Praxair’s dividend payout ratio is currently 56.05%.

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PX has been the subject of a number of recent research reports. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $131.00 to $155.00 in a research note on Thursday, September 7th. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Finally, BidaskClub raised shares of Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $145.77.

Praxair Company 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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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