Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 999 Shares of Praxair, Inc. (PX)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Praxair, Inc. (NYSE:PX) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,301 shares of the basic materials company’s stock after acquiring an additional 999 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Praxair were worth $6,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Praxair by 1.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after acquiring an additional 77,300 shares in the last quarter. Egerton Capital UK LLP lifted its position in shares of Praxair by 24.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after purchasing an additional 655,456 shares during the last quarter. Capital International Investors lifted its position in shares of Praxair by 9.6% during the 3rd quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock worth $416,663,000 after purchasing an additional 262,050 shares during the last quarter. Jensen Investment Management Inc. lifted its position in shares of Praxair by 0.6% during 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 purchasing an additional 15,176 shares during the last quarter. Finally, CI Global Investments Inc. lifted its position in shares of Praxair by 0.8% during the 4th quarter. CI Global Investments Inc. now owns 1,993,569 shares of the basic materials company’s stock worth $308,365,000 after purchasing an additional 16,699 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

Shares of Praxair, Inc. (PX) traded down $0.82 on Thursday, reaching $154.25. 894,440 shares of the company were exchanged, compared to its average volume of 2,202,036. Praxair, Inc. has a 52-week low of $115.67 and a 52-week high of $166.95. The stock has a market capitalization of $44,400.00, a PE ratio of 35.58, a PEG ratio of 2.01 and a beta of 1.03. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, March 7th will be given a $0.825 dividend. The ex-dividend date is Tuesday, March 6th. This is a boost from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 dividend on an annualized basis and a yield of 2.14%. Praxair’s payout ratio is 72.92%.

PX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Monday, November 6th. Deutsche Bank raised shares of Praxair from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $155.00 to $175.00 in a research report on Tuesday, December 19th. Jefferies Group set a $186.00 price objective on shares of Praxair and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Argus raised shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a research report on Monday, November 13th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Praxair has an average rating of “Buy” and a consensus target price of $167.50.

TRADEMARK VIOLATION WARNING: This piece was reported by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://weekherald.com/2018/02/15/mitsubishi-ufj-kokusai-asset-management-co-ltd-has-6-82-million-position-in-praxair-inc-px.html.

About Praxair

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)

Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply