In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Praxair Inc. (NYSE:PX) reported that Soroban Capital Partners has picked up 17,619,237 of common stock as of 2017-04-27.
The acquisition brings the aggregate amount owned by Soroban Capital Partners to a total of 17,619,237 representing less than 6.2% stake in the company.
For those not familiar with the company, Praxair, Inc. is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc., which represents the fifth segment. Its operations consist of two product lines: industrial gases and surface technologies. Its industrial gases product line centers on the manufacturing and distribution of atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases). It also designs, engineers and builds equipment that produces industrial gases primarily for internal use. Its Surface Technologies segment, operated through Praxair Surface Technologies, Inc., supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.
A glance at Praxair Inc. (NYSE:PX)’s key stats reveals a current market capitalization of 36.02 Billion based on 285.28 Million shares outstanding and a price at last close of $125.81 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-01-07, Angel picked up 5,000 at a purchase price of $97.25. This brings their total holding to 133,748 as of the date of the filing.
On the sell side, the most recent transaction saw Angel unload 83,300 shares at a sale price of $119.04. This brings their total holding to 37,389.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Praxair Inc. (NYSE:PX) as things move forward to see if its progress aligns with these transactions.
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