Canada Pension Plan Investment Board Reduces Position in Praxair, Inc. (PX)

Canada Pension Plan Investment Board cut its position in shares of Praxair, Inc. (NYSE:PX) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,573,366 shares of the basic materials company’s stock after selling 103,576 shares during the period. Canada Pension Plan Investment Board’s holdings in Praxair were worth $252,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Winslow Capital Management LLC lifted its stake in shares of Praxair by 101.6% in the 3rd quarter. Winslow Capital Management LLC now owns 1,942,828 shares of the basic materials company’s stock valued at $312,270,000 after purchasing an additional 979,342 shares during the last quarter. Morgan Stanley lifted its stake in shares of Praxair by 45.6% in the 2nd quarter. Morgan Stanley now owns 2,198,692 shares of the basic materials company’s stock valued at $347,726,000 after purchasing an additional 688,418 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of Praxair by 61.1% in the 2nd quarter. Putnam Investments LLC now owns 1,506,298 shares of the basic materials company’s stock valued at $238,221,000 after purchasing an additional 571,306 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Praxair by 2.3% in the 3rd quarter. BlackRock Inc. now owns 17,409,139 shares of the basic materials company’s stock valued at $2,798,174,000 after purchasing an additional 393,259 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Praxair by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 2,864,195 shares of the basic materials company’s stock valued at $452,973,000 after purchasing an additional 321,936 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

PX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Praxair from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. BMO Capital Markets increased their price target on Praxair from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. Seaport Global Securities reiterated a “hold” rating and issued a $175.00 price target on shares of Praxair in a report on Tuesday, August 7th. Sanford C. Bernstein initiated coverage on Praxair in a report on Monday, September 24th. They issued an “underperform” rating and a $132.00 price target on the stock. Finally, Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Praxair presently has a consensus rating of “Hold” and an average price target of $175.82.

Shares of NYSE PX opened at $164.50 on Friday. Praxair, Inc. has a fifty-two week low of $140.00 and a fifty-two week high of $169.75.

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Praxair 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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