Praxair, Inc. (PX) is Parnassus Investments CA’s 4th Largest Position

Parnassus Investments CA increased its position in Praxair, Inc. (NYSE:PX) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,422,173 shares of the basic materials company’s stock after acquiring an additional 3,420 shares during the quarter. Praxair comprises about 3.9% of Parnassus Investments CA’s investment portfolio, making the stock its 4th biggest position. Parnassus Investments CA’s holdings in Praxair were worth $993,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec raised its holdings in Praxair by 1.6% in the 3rd 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 during the period. Egerton Capital UK LLP increased its holdings 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 period. Capital International Investors increased its holdings 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 period. Jensen Investment Management Inc. increased its holdings 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. Finally, CI Global Investments Inc. increased its holdings 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 period. Hedge funds and other institutional investors own 85.60% of the company’s stock.

Several research analysts have recently issued reports on PX shares. JPMorgan Chase & Co. boosted their price objective on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Monday, November 6th. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and lifted their target price for the company from $155.00 to $175.00 in a research report on Tuesday, December 19th. Jefferies Group set a $186.00 target price on shares of Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Argus upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $163.47.

Praxair, Inc. (NYSE:PX) opened at $150.32 on Tuesday. The company has a market cap of $44,391.64, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03. Praxair, Inc. has a 12-month low of $115.53 and a 12-month high of $166.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be given a $0.825 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 dividend on an annualized basis and a yield of 2.20%. Praxair’s payout ratio is 72.92%.

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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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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