Brown Brothers Harriman Co Lowers stake in Praxair (PX)

Praxair (PX) : Brown Brothers Harriman Co reduced its stake in Praxair by 2.73% during the most recent quarter end. The investment management company now holds a total of 3,687,487 shares of Praxair which is valued at $430,587,857 after selling 103,668 shares in Praxair , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Praxair makes up approximately 2.15% of Brown Brothers Harriman Co’s portfolio.

Other Hedge Funds, Including , Capital Research Global Investors reduced its stake in PX by selling 1,000,000 shares or 16.74% in the most recent quarter. The Hedge Fund company now holds 4,975,300 shares of PX which is valued at $580,965,781. Praxair makes up approx 0.19% of Capital Research Global Investors’s portfolio.Lebenthal Asset Management boosted its stake in PX in the latest quarter, The investment management firm added 909 additional shares and now holds a total of 5,771 shares of Praxair which is valued at $673,880. Praxair makes up approx 0.08% of Lebenthal Asset Management’s portfolio.Mufg Americas Holdings Corp reduced its stake in PX by selling 2,325 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 49,503 shares of PX which is valued at $5,790,861. Praxair makes up approx 0.20% of Mufg Americas Holdings Corp’s portfolio.Schaper Benz Wise Investment Counsel Incwi boosted its stake in PX in the latest quarter, The investment management firm added 1,135 additional shares and now holds a total of 65,165 shares of Praxair which is valued at $7,596,936. Praxair makes up approx 1.33% of Schaper Benz Wise Investment Counsel Incwi’s portfolio.Pillar Pacific Capital Management boosted its stake in PX in the latest quarter, The investment management firm added 718 additional shares and now holds a total of 37,960 shares of Praxair which is valued at $4,425,377. Praxair makes up approx 0.71% of Pillar Pacific Capital Management’s portfolio.

Praxair opened for trading at $122.27 and hit $123 on the upside on Thursday, eventually ending the session at $122.85, with a gain of 0.66% or 0.81 points. The heightened volatility saw the trading volume jump to 12,24,290 shares. Company has a market cap of $35,041 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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