Marathon Asset Management Llp Lowers stake in Praxair (PX)

Praxair (PX) : Marathon Asset Management Llp reduced its stake in Praxair by 2.7% during the most recent quarter end. The investment management company now holds a total of 1,166,849 shares of Praxair which is valued at $138,458,302 after selling 32,376 shares in Praxair , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.Praxair makes up approximately 2.86% of Marathon Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management added PX to its portfolio by purchasing 3,004 company shares during the most recent quarter which is valued at $356,455. Praxair makes up approx 0.02% of Eqis Capital Management’s portfolio.First United Bank Trust reduced its stake in PX by selling 38 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 5,935 shares of PX which is valued at $697,659. Praxair makes up approx 0.59% of First United Bank Trust’s portfolio.Cutler Group Lp reduced its stake in PX by selling 78 shares or 23.93% in the most recent quarter. The Hedge Fund company now holds 248 shares of PX which is valued at $29,152.Webster Bank N. A. boosted its stake in PX in the latest quarter, The investment management firm added 79 additional shares and now holds a total of 2,882 shares of Praxair which is valued at $338,779. Praxair makes up approx 0.05% of Webster Bank N. A.’s portfolio.Chicago Trust Co Na reduced its stake in PX by selling 250 shares or 8.85% in the most recent quarter. The Hedge Fund company now holds 2,575 shares of PX which is valued at $295,456. Praxair makes up approx 0.12% of Chicago Trust Co Na’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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