Xylem (NYSE:XYL) Releases Earnings Results, Beats Estimates By $0.03 EPS

Xylem (NYSE:XYLGet Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03, Briefing.com reports. Xylem had a return on equity of 10.99% and a net margin of 7.29%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 40.6% compared to the same quarter last year. Xylem updated its FY 2024 guidance to 4.000-4.200 EPS.

Xylem Price Performance

Shares of XYL stock opened at $119.58 on Wednesday. The stock’s fifty day simple moving average is $111.33 and its 200 day simple moving average is $102.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.72 and a quick ratio of 1.21. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 2.04 and a beta of 1.09. Xylem has a one year low of $87.59 and a one year high of $119.94.

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, November 20th. Xylem’s dividend payout ratio is 54.10%.

Insider Activity at Xylem

In related news, CEO Patrick Decker sold 99,648 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $100.84, for a total value of $10,048,504.32. Following the sale, the chief executive officer now owns 287,564 shares of the company’s stock, valued at approximately $28,997,953.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Xylem news, Director Victoria D. Harker sold 2,000 shares of Xylem stock in a transaction on Friday, December 8th. The stock was sold at an average price of $106.50, for a total value of $213,000.00. Following the completion of the transaction, the director now owns 20,679 shares in the company, valued at approximately $2,202,313.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick Decker sold 99,648 shares of Xylem stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $100.84, for a total value of $10,048,504.32. Following the completion of the transaction, the chief executive officer now owns 287,564 shares of the company’s stock, valued at approximately $28,997,953.76. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Xylem

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in Xylem by 11.0% in the 1st quarter. Mackenzie Financial Corp now owns 11,869 shares of the industrial products company’s stock valued at $1,012,000 after purchasing an additional 1,175 shares during the last quarter. Covestor Ltd lifted its stake in shares of Xylem by 178.5% during the first quarter. Covestor Ltd now owns 1,036 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 664 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Xylem by 248.6% during the first quarter. Parkside Financial Bank & Trust now owns 638 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 455 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Xylem by 1.6% during the first quarter. Baird Financial Group Inc. now owns 312,921 shares of the industrial products company’s stock valued at $26,679,000 after acquiring an additional 4,984 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Xylem by 7.6% during the first quarter. Vanguard Group Inc. now owns 20,390,911 shares of the industrial products company’s stock valued at $1,738,529,000 after acquiring an additional 1,435,798 shares during the period. Institutional investors own 84.53% of the company’s stock.

Analysts Set New Price Targets

XYL has been the topic of a number of research analyst reports. Citigroup raised their target price on Xylem from $104.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Wolfe Research initiated coverage on Xylem in a report on Wednesday, December 13th. They issued an “outperform” rating and a $127.00 target price on the stock. Royal Bank of Canada raised their target price on Xylem from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Stifel Nicolaus raised their target price on Xylem from $133.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Oppenheimer raised Xylem from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Thursday, October 19th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.20.

Read Our Latest Stock Report on Xylem

About Xylem

(Get Free Report)

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions.

Recommended Stories

Earnings History for Xylem (NYSE:XYL)

Receive News & Ratings for Xylem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xylem and related companies with MarketBeat.com's FREE daily email newsletter.