Brown Brothers Harriman Co Lowers stake in Praxair (PX)

Praxair (PX) : Brown Brothers Harriman Co reduced its stake in Praxair by 3.02% during the most recent quarter end. The investment management company now holds a total of 3,576,271 shares of Praxair which is valued at $417,672,690 after selling 111,216 shares in Praxair , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Praxair makes up approximately 2.20% of Brown Brothers Harriman Co’s portfolio.

Other Hedge Funds, Including , Parametric Risk Advisors sold out all of its stake in PX during the most recent quarter. The investment firm sold 6,225 shares of PX which is valued $727,018.Next Financial Group Inc boosted its stake in PX in the latest quarter, The investment management firm added 1,142 additional shares and now holds a total of 1,368 shares of Praxair which is valued at $157,320. Praxair makes up approx 0.03% of Next Financial Group Inc’s portfolio.Umb Bank N Amo reduced its stake in PX by selling 62 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 25,891 shares of PX which is valued at $3,030,800. Praxair makes up approx 0.12% of Umb Bank N Amo’s portfolio.

Praxair closed down -0.51 points or -0.44% at $115.78 with 10,41,212 shares getting traded on Monday. Post opening the session at $116.25, the shares hit an intraday low of $115.54 and an intraday high of $116.52 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Praxair reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.40. The company had revenue of $2716.00 million for the quarter, compared to analysts expectations of $2696.33 million. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS.

Investors should note that on Oct 27, 2016, Praxair announced a cash dividend of $0.7500. The company’s management has announced Dec 5, 2016 as the ex-dividend date and fixed the record date on Dec 7, 2016. The payable date has been fixed on Dec 15, 2016.

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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