Whittier Trust Co. lowered its position in shares of Praxair, Inc. (NYSE:PX) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 99,441 shares of the basic materials company’s stock after selling 1,555 shares during the period. Whittier Trust Co.’s holdings in Praxair were worth $15,983,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Praxair by 4.7% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,015,076 shares of the basic materials company’s stock valued at $634,984,000 after buying an additional 181,847 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Praxair by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 2,864,195 shares of the basic materials company’s stock valued at $452,973,000 after buying an additional 321,936 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Praxair by 45.6% in the 2nd quarter. Morgan Stanley now owns 2,198,692 shares of the basic materials company’s stock valued at $347,726,000 after buying an additional 688,418 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Praxair by 556.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,676,942 shares of the basic materials company’s stock valued at $265,208,000 after buying an additional 1,421,596 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Praxair by 61.1% in the 2nd quarter. Putnam Investments LLC now owns 1,506,298 shares of the basic materials company’s stock valued at $238,221,000 after buying an additional 571,306 shares during the last quarter. 86.20% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PX traded down $3.69 during mid-day trading on Tuesday, reaching $163.19. The company had a trading volume of 39,302 shares, compared to its average volume of 1,770,549. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.96. Praxair, Inc. has a one year low of $140.00 and a one year high of $169.75. The stock has a market capitalization of $45.97 billion, a P/E ratio of 27.78, a PEG ratio of 1.90 and a beta of 1.08.

Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.02. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the business earned $1.46 earnings per share. Praxair’s revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Praxair, Inc. will post 6.76 earnings per share for the current year.

Several equities research analysts have recently commented on PX shares. ValuEngine raised Praxair from a “hold” rating to a “buy” rating in a report on Friday, June 29th. Seaport Global Securities reaffirmed a “hold” rating and set a $175.00 price target on shares of Praxair in a report on Tuesday, August 7th. Jefferies Financial Group reaffirmed a “$165.03” rating and set a $194.00 price target on shares of Praxair in a report on Wednesday, July 18th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Wednesday, September 26th. Finally, JPMorgan Chase & Co. raised their price target on Praxair from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $175.38.

About Praxair

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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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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