Norges Bank Invests $198.21 Million in Xylem Inc. (NYSE:XYL)

Norges Bank bought a new position in shares of Xylem Inc. (NYSE:XYL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,733,189 shares of the industrial products company’s stock, valued at approximately $198,207,000.

Several other large investors also recently bought and sold shares of XYL. Teacher Retirement System of Texas grew its position in Xylem by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 18,543 shares of the industrial products company’s stock worth $1,688,000 after purchasing an additional 447 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Xylem by 12.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,266 shares of the industrial products company’s stock worth $479,000 after purchasing an additional 578 shares during the last quarter. Sentry Investment Management LLC grew its position in Xylem by 9.2% during the 3rd quarter. Sentry Investment Management LLC now owns 1,386 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 117 shares during the last quarter. NBC Securities Inc. purchased a new stake in Xylem during the 3rd quarter worth approximately $38,000. Finally, Ieq Capital LLC grew its position in Xylem by 30.0% during the 3rd quarter. Ieq Capital LLC now owns 6,774 shares of the industrial products company’s stock worth $617,000 after purchasing an additional 1,565 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Xylem Stock Performance

XYL opened at $145.20 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.67 and a quick ratio of 1.22. The firm has a fifty day moving average price of $132.78 and a 200 day moving average price of $120.04. Xylem Inc. has a 1 year low of $87.59 and a 1 year high of $146.08. The stock has a market cap of $35.20 billion, a P/E ratio of 51.67, a P/E/G ratio of 2.72 and a beta of 1.08.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2 billion. Xylem had a net margin of 8.34% and a return on equity of 8.95%. The firm’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Xylem Inc. will post 4.24 earnings per share for the current year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, May 30th. Xylem’s dividend payout ratio is presently 51.25%.

Analyst Ratings Changes

Several analysts have commented on XYL shares. Stifel Nicolaus lifted their price objective on shares of Xylem from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Citigroup lifted their price objective on shares of Xylem from $126.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of Xylem from $157.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. BNP Paribas started coverage on shares of Xylem in a research note on Tuesday, March 12th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Xylem from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.70.

About Xylem

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.