Fifth Third Bancorp cut its holdings in shares of Praxair, Inc. (NYSE:PX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,964 shares of the basic materials company’s stock after selling 3,716 shares during the quarter. Fifth Third Bancorp’s holdings in Praxair were worth $32,622,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Praxair by 2.0% during the second quarter. CIBC Asset Management Inc now owns 33,029 shares of the basic materials company’s stock valued at $5,224,000 after acquiring an additional 662 shares during the period. Lyell Wealth Management LP bought a new stake in shares of Praxair in the third quarter worth about $225,000. NuWave Investment Management LLC increased its holdings in shares of Praxair by 139.4% in the third quarter. NuWave Investment Management LLC now owns 5,082 shares of the basic materials company’s stock worth $817,000 after purchasing an additional 2,959 shares during the last quarter. GWM Advisors LLC increased its holdings in shares of Praxair by 22.6% in the third quarter. GWM Advisors LLC now owns 3,116 shares of the basic materials company’s stock worth $501,000 after purchasing an additional 575 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of Praxair by 414.8% in the second quarter. Sun Life Financial INC now owns 2,162 shares of the basic materials company’s stock worth $342,000 after purchasing an additional 1,742 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PX opened at $164.50 on Friday. Praxair, Inc. has a 1-year low of $140.00 and a 1-year high of $169.75.
Several brokerages have recently issued reports on PX. Sanford C. Bernstein began coverage on Praxair in a report on Monday, September 24th. They issued an “underperform” rating and a $132.00 target price on the stock. BNP Paribas began coverage on Praxair in a report on Tuesday, October 2nd. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Praxair currently has an average rating of “Hold” and an average price target of $175.82.
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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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