Praxair, Inc. (PX) Position Reduced by Nomura Asset Management Co. Ltd.

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Nomura Asset Management Co. Ltd. cut its stake in Praxair, Inc. (NYSE:PX) by 12.6% in the third quarter, HoldingsChannel reports. The firm owned 56,794 shares of the basic materials company’s stock after selling 8,159 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Praxair were worth $9,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PX. Caisse DE Depot ET Placement DU Quebec raised its position in Praxair by 4.7% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,015,076 shares of the basic materials company’s stock worth $634,984,000 after buying an additional 181,847 shares during the last quarter. Bank of America Corp DE raised its position in Praxair by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 2,864,195 shares of the basic materials company’s stock worth $452,973,000 after buying an additional 321,936 shares during the last quarter. Morgan Stanley raised its position in Praxair by 45.6% during the 2nd quarter. Morgan Stanley now owns 2,198,692 shares of the basic materials company’s stock worth $347,726,000 after buying an additional 688,418 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Praxair by 556.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,676,942 shares of the basic materials company’s stock worth $265,208,000 after buying an additional 1,421,596 shares during the last quarter. Finally, Putnam Investments LLC raised its position in Praxair by 61.1% during the 2nd quarter. Putnam Investments LLC now owns 1,506,298 shares of the basic materials company’s stock worth $238,221,000 after buying an additional 571,306 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

PX has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. raised their price target on shares of Praxair from $180.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. BMO Capital Markets raised their price target on shares of Praxair from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Seaport Global Securities reaffirmed a “hold” rating and set a $175.00 target price on shares of Praxair in a report on Tuesday, August 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Praxair in a report on Monday, September 24th. They set an “underperform” rating and a $132.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $175.82.

NYSE:PX opened at $164.50 on Friday. Praxair, Inc. has a 1-year low of $140.00 and a 1-year high of $169.75.

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Praxair Company Profile

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

See Also: Diversification Important in Investing

Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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