Park Avenue Securities LLC cut its stake in shares of Xylem Inc. (NYSE:XYL – Get Rating) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,780 shares of the industrial products company’s stock after selling 230 shares during the quarter. Park Avenue Securities LLC’s holdings in Xylem were worth $330,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of XYL. First Trust Advisors LP increased its stake in Xylem by 399.3% in the 1st quarter. First Trust Advisors LP now owns 2,951,349 shares of the industrial products company’s stock worth $251,632,000 after purchasing an additional 2,360,214 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Xylem by 7.6% in the first quarter. Vanguard Group Inc. now owns 20,390,911 shares of the industrial products company’s stock worth $1,738,529,000 after acquiring an additional 1,435,798 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Xylem by 53.6% during the first quarter. Invesco Ltd. now owns 3,828,177 shares of the industrial products company’s stock valued at $326,390,000 after acquiring an additional 1,335,241 shares during the period. Renaissance Technologies LLC boosted its stake in Xylem by 613.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,183,400 shares of the industrial products company’s stock worth $100,897,000 after purchasing an additional 1,017,500 shares during the period. Finally, Victory Capital Management Inc. grew its position in Xylem by 47.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,778,400 shares of the industrial products company’s stock worth $217,216,000 after purchasing an additional 900,170 shares in the last quarter. 83.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Xylem
In other news, SVP Matthew Francis Pine sold 11,870 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $107.12, for a total value of $1,271,514.40. Following the completion of the sale, the senior vice president now directly owns 22,819 shares in the company, valued at $2,444,371.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.89% of the company’s stock.
Xylem Stock Performance
Xylem (NYSE:XYL – Get Rating) last posted its earnings results on Tuesday, November 1st. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.33 billion. Xylem had a return on equity of 14.40% and a net margin of 5.97%. Equities analysts expect that Xylem Inc. will post 2.71 EPS for the current fiscal year.
Xylem Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 20th. Shareholders of record on Tuesday, November 22nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. Xylem’s payout ratio is currently 68.18%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on XYL shares. TheStreet lowered Xylem from a “b-” rating to a “c” rating in a report on Tuesday, November 1st. Stifel Nicolaus lowered Xylem from a “buy” rating to a “hold” rating and raised their price objective for the stock from $113.00 to $115.00 in a research report on Monday, December 19th. Royal Bank of Canada upped their target price on Xylem from $105.00 to $114.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Credit Suisse Group raised their price target on shares of Xylem from $93.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. Finally, Cowen upped their price objective on shares of Xylem from $105.00 to $115.00 in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $113.60.
Xylem Company Profile
Xylem, Inc engages in the design, manufacture, and application of engineered technologies for the water industry. It operates through the following business segments: Water Infrastructure, Applied Water, and Measurement and Control Solutions. The Water Infrastructure segment focuses on the transportation, treatment and testing of water.
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