Headinvest LLC Sells 20 Shares of Praxair, Inc. (PX)

Headinvest LLC lowered its position in Praxair, Inc. (NYSE:PX) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,572 shares of the basic materials company’s stock after selling 20 shares during the period. Praxair comprises 1.9% of Headinvest LLC’s portfolio, making the stock its 15th largest position. Headinvest LLC’s holdings in Praxair were worth $5,775,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Catawba Capital Management VA increased its stake in shares of Praxair by 0.8% in the first quarter. Catawba Capital Management VA now owns 9,647 shares of the basic materials company’s stock worth $1,144,000 after buying an additional 75 shares during the period. Confluence Investment Management LLC increased its stake in shares of Praxair by 11.2% in the first quarter. Confluence Investment Management LLC now owns 666,303 shares of the basic materials company’s stock worth $79,023,000 after buying an additional 66,931 shares during the period. Manning & Napier Advisors LLC increased its stake in shares of Praxair by 4.5% in the first quarter. Manning & Napier Advisors LLC now owns 46,123 shares of the basic materials company’s stock worth $5,469,000 after buying an additional 2,005 shares during the period. CENTRAL TRUST Co increased its stake in shares of Praxair by 1.6% in the first quarter. CENTRAL TRUST Co now owns 7,537 shares of the basic materials company’s stock worth $894,000 after buying an additional 116 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Praxair by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 252,885 shares of the basic materials company’s stock worth $29,992,000 after buying an additional 6,524 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Praxair, Inc. (NYSE PX) traded down 0.28% during midday trading on Thursday, reaching $135.24. 67,674 shares of the company’s stock traded hands. The company’s 50-day moving average price is $133.89 and its 200 day moving average price is $123.89. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The stock has a market capitalization of $38.59 billion, a price-to-earnings ratio of 25.42 and a beta of 0.94.

Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.

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A number of equities research analysts have recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price target (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co restated an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Finally, Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $140.00 to $150.00 in a report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Praxair currently has an average rating of “Hold” and an average target price of $130.77.

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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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