Advisory Services Network Lowers stake in Praxair (PX)

Praxair (PX) : Advisory Services Network reduced its stake in Praxair by 2.82% during the most recent quarter end. The investment management company now holds a total of 1,344 shares of Praxair which is valued at $159,734 after selling 39 shares in Praxair , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Praxair makes up approximately 0.03% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in PX by selling 1,011 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 72,830 shares of PX which is valued at $8,655,846. Praxair makes up approx 0.18% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PX by selling 94,795 shares or 79.75% in the most recent quarter. The Hedge Fund company now holds 24,069 shares of PX which is valued at $2,896,945. Praxair makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. Eqis Capital Management sold out all of its stake in PX during the most recent quarter. The investment firm sold 3,004 shares of PX which is valued $361,561.Bath Savings Trust Co reduced its stake in PX by selling 1,110 shares or 17.4% in the most recent quarter. The Hedge Fund company now holds 5,271 shares of PX which is valued at $634,418. Praxair makes up approx 0.20% of Bath Savings Trust Co’s portfolio.

Praxair closed down -2 points or -1.65% at $118.85 with 11,26,144 shares getting traded on Friday. Post opening the session at $121.16, the shares hit an intraday low of $118.32 and an intraday high of $121.16 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Praxair reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.36. The company had revenue of $2665.00 million for the quarter, compared to analysts expectations of $2609.53 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

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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