Allspring Global Investments Holdings LLC Sells 488 Shares of Xylem Inc. (NYSE:XYL)

Allspring Global Investments Holdings LLC cut its stake in Xylem Inc. (NYSE:XYL) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,534 shares of the industrial products company’s stock after selling 488 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Xylem were worth $1,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC lifted its holdings in shares of Xylem by 209.8% during the third quarter. CWM LLC now owns 7,687 shares of the industrial products company’s stock valued at $700,000 after acquiring an additional 5,206 shares during the period. AE Wealth Management LLC lifted its holdings in Xylem by 122.0% during the 3rd quarter. AE Wealth Management LLC now owns 19,369 shares of the industrial products company’s stock valued at $1,763,000 after purchasing an additional 10,646 shares during the last quarter. HB Wealth Management LLC boosted its position in Xylem by 13.0% in the third quarter. HB Wealth Management LLC now owns 2,259 shares of the industrial products company’s stock valued at $206,000 after buying an additional 259 shares in the last quarter. Montecito Bank & Trust grew its stake in Xylem by 44.0% during the third quarter. Montecito Bank & Trust now owns 2,604 shares of the industrial products company’s stock worth $237,000 after buying an additional 796 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Xylem by 0.7% during the third quarter. DAVENPORT & Co LLC now owns 893,484 shares of the industrial products company’s stock worth $81,310,000 after buying an additional 6,178 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on XYL shares. Royal Bank of Canada boosted their target price on Xylem from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Robert W. Baird raised their target price on Xylem from $141.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Raymond James raised Xylem from an “underperform” rating to a “market perform” rating in a report on Thursday, January 4th. Oppenheimer increased their price objective on shares of Xylem from $133.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, BNP Paribas initiated coverage on shares of Xylem in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $150.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.11.

Xylem Price Performance

Shares of XYL stock opened at $128.98 on Tuesday. Xylem Inc. has a 52-week low of $87.59 and a 52-week high of $130.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.30 and a current ratio of 1.76. The stock has a market cap of $31.26 billion, a PE ratio of 47.42, a PEG ratio of 2.55 and a beta of 1.10. The firm’s 50 day moving average price is $127.13 and its two-hundred day moving average price is $112.94.

Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Xylem had a return on equity of 9.65% and a net margin of 8.27%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. As a group, analysts forecast that Xylem Inc. will post 4.13 EPS for the current year.

Xylem Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 21st were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 20th. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. This is a boost from Xylem’s previous quarterly dividend of $0.33. Xylem’s payout ratio is currently 52.94%.

Insider Buying and Selling at Xylem

In other news, SVP Franz Cerwinka sold 2,408 shares of Xylem stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $121.79, for a total transaction of $293,270.32. Following the transaction, the senior vice president now directly owns 11,750 shares of the company’s stock, valued at $1,431,032.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Xylem news, CAO Geri-Michelle Mcshane sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the sale, the chief accounting officer now directly owns 2,935 shares in the company, valued at approximately $360,682.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Franz Cerwinka sold 2,408 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $121.79, for a total transaction of $293,270.32. Following the completion of the transaction, the senior vice president now owns 11,750 shares of the company’s stock, valued at approximately $1,431,032.50. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Xylem Profile

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.