Pennsylvania Trust Co Lowers stake in Praxair (PX)

Praxair (PX) : Pennsylvania Trust Co reduced its stake in Praxair by 10.86% during the most recent quarter end. The investment management company now holds a total of 22,299 shares of Praxair which is valued at $2,612,997 after selling 2,716 shares in Praxair , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Praxair makes up approximately 0.21% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Reliance Trust Co Of Delaware boosted its stake in PX in the latest quarter, The investment management firm added 461 additional shares and now holds a total of 7,301 shares of Praxair which is valued at $855,531. Praxair makes up approx 0.08% of Reliance Trust Co Of Delaware’s portfolio.Jacobs Coca reduced its stake in PX by selling 200 shares or 10.61% in the most recent quarter. The Hedge Fund company now holds 1,685 shares of PX which is valued at $200,127. Praxair makes up approx 0.04% of Jacobs Coca’s portfolio.Dynamic Advisors Solutions boosted its stake in PX in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 2,577 shares of Praxair which is valued at $306,070. Praxair makes up approx 0.12% of Dynamic Advisors Solutions’s portfolio.Beacon Financial Group boosted its stake in PX in the latest quarter, The investment management firm added 292 additional shares and now holds a total of 22,935 shares of Praxair which is valued at $2,760,457. Praxair makes up approx 0.58% of Beacon Financial Group’s portfolio.

Praxair opened for trading at $117.81 and hit $117.995 on the upside on Friday, eventually ending the session at $117.18, with a gain of 0.07% or 0.08 points. The heightened volatility saw the trading volume jump to 4,64,337 shares. Company has a market cap of $33,423 M.

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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