Bruderman Asset Management LLC Cuts Position in Praxair, Inc. (PX)

Bruderman Asset Management LLC lessened its holdings in Praxair, Inc. (NYSE:PX) by 37.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,732 shares of the basic materials company’s stock after selling 1,625 shares during the quarter. Bruderman Asset Management LLC’s holdings in Praxair were worth $394,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Praxair by 1.1% during the 4th quarter. BlackRock Inc. now owns 17,780,637 shares of the basic materials company’s stock worth $2,750,308,000 after purchasing an additional 196,920 shares during the period. Franklin Resources Inc. grew its stake in shares of Praxair by 2.1% during the 1st quarter. Franklin Resources Inc. now owns 5,614,988 shares of the basic materials company’s stock worth $810,243,000 after purchasing an additional 113,554 shares during the period. Egerton Capital UK LLP grew its stake in shares of Praxair by 24.5% during the 4th quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock worth $651,818,000 after purchasing an additional 829,003 shares during the period. Geode Capital Management LLC grew its stake in shares of Praxair by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,781,294 shares of the basic materials company’s stock worth $429,239,000 after purchasing an additional 89,525 shares during the period. Finally, Jensen Investment Management Inc. grew its stake 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 period. Institutional investors own 85.75% of the company’s stock.

A number of equities research analysts have recently commented on the stock. TheStreet cut shares of Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Monday. Seaport Global Securities reaffirmed a “hold” rating and set a $165.00 price objective on shares of Praxair in a research note on Wednesday, January 31st. Citigroup reaffirmed a “buy” rating and set a $188.00 price objective on shares of Praxair in a research note on Friday, January 26th. Finally, ValuEngine cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Praxair currently has a consensus rating of “Buy” and an average target price of $166.73.

Praxair opened at $157.50 on Friday, MarketBeat reports. Praxair, Inc. has a 1 year low of $127.36 and a 1 year high of $166.95. The firm has a market capitalization of $45.72 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.05 and a beta of 1.07. 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, June 7th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 2.10%. Praxair’s dividend payout ratio is currently 56.41%.

Praxair Company Profile

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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