Praxair, Inc. (PX) Position Reduced by Hartland & Co. LLC
Hartland & Co. LLC cut its holdings in Praxair, Inc. (NYSE:PX) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,435 shares of the basic materials company’s stock after selling 762 shares during the period. Hartland & Co. LLC’s holdings in Praxair were worth $222,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kistler Tiffany Companies LLC lifted its holdings in Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 430 shares during the last quarter. Cerebellum GP LLC acquired a new position in Praxair during the fourth quarter worth $128,000. Accident Compensation Corp acquired a new position in Praxair during the third quarter worth $140,000. San Francisco Sentry Investment Group CA lifted its stake in Praxair by 2,171.1% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 977 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new position in Praxair during the third quarter worth $154,000. Hedge funds and other institutional investors own 84.93% of the company’s stock.
PX has been the topic of a number of research reports. UBS Group upped their price target on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Citigroup upgraded Praxair from a “neutral” rating to a “buy” rating and upped their price target for the stock from $137.00 to $168.00 in a research note on Monday, October 30th. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and upped their price target for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a research note on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $167.50.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.825 per share. The ex-dividend date is Tuesday, March 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio is currently 72.92%.
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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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