Ruane Cunniff Goldfarb Inc Lowers stake in Praxair (PX)

Praxair (PX) : Ruane Cunniff Goldfarb Inc reduced its stake in Praxair by 7.37% during the most recent quarter end. The investment management company now holds a total of 1,605,924 shares of Praxair which is valued at $190,558,942 after selling 127,820 shares in Praxair , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Praxair makes up approximately 1.76% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Heritage Investors Management Corp boosted its stake in PX in the latest quarter, The investment management firm added 1,064 additional shares and now holds a total of 45,144 shares of Praxair which is valued at $5,356,787. Praxair makes up approx 0.39% of Heritage Investors Management Corp’s portfolio.Loring Wolcott Coolidge Fiduciary Advisors Llpma reduced its stake in PX by selling 8,033 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 674,040 shares of PX which is valued at $79,233,402. Praxair makes up approx 1.78% of Loring Wolcott Coolidge Fiduciary Advisors Llpma’s portfolio.Central Bank Trust Co reduced its stake in PX by selling 1,290 shares or 81.13% in the most recent quarter. The Hedge Fund company now holds 300 shares of PX which is valued at $35,265. Praxair makes up approx 0.01% of Central Bank Trust Co’s portfolio.Patten Patten Inctn reduced its stake in PX by selling 1,970 shares or 21.07% in the most recent quarter. The Hedge Fund company now holds 7,382 shares of PX which is valued at $847,011. Praxair makes up approx 0.12% of Patten Patten Inctn’s portfolio.

Praxair closed down -0.33 points or -0.28% at $118.66 with 5,79,510 shares getting traded on Monday. Post opening the session at $118.71, the shares hit an intraday low of $118.24 and an intraday high of $119 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Praxair reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.27. The company had revenue of $2509.00 million for the quarter, compared to analysts expectations of $2476.99 million. The company’s revenue was down -9.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.43 EPS.

Many Wall Street Analysts have commented on Praxair. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 120 from a previous price target of $112 .

Praxair Inc. (Praxair) is an industrial gas supplier in North and South America Asia and Europe. 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 Praxair operates its surface technologies business through its wholly owned subsidiary Praxair Surface Technologies Inc. which represents the fifth segment. The Company’s products in its industrial gases business include atmospheric gases (oxygen nitrogen argon rare gases) and process gases (carbon dioxide helium hydrogen electronic gases specialty gases acetylene). The company also designs engineers and builds equipment that produces industrial gases primarily for internal use. The company’s surface technologies segment operated through Praxair Surface Technologies Inc. supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

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