Covington Capital Management Acquires 1,150 Shares of Xylem Inc (NYSE:XYL)

Covington Capital Management increased its position in shares of Xylem Inc (NYSE:XYL) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,260 shares of the industrial products company’s stock after buying an additional 1,150 shares during the quarter. Covington Capital Management’s holdings in Xylem were worth $632,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Xylem by 16.0% in the 4th quarter. BlackRock Inc. now owns 14,130,060 shares of the industrial products company’s stock valued at $963,668,000 after acquiring an additional 1,949,335 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Xylem by 0.8% in the 4th quarter. Parnassus Investments CA now owns 6,063,309 shares of the industrial products company’s stock valued at $413,518,000 after purchasing an additional 48,919 shares during the last quarter. Impax Asset Management LTD increased its stake in shares of Xylem by 0.6% in the 3rd quarter. Impax Asset Management LTD now owns 3,106,646 shares of the industrial products company’s stock valued at $194,569,000 after purchasing an additional 18,698 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Xylem by 31.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,027,810 shares of the industrial products company’s stock valued at $127,002,000 after purchasing an additional 487,360 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Xylem by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 2,027,704 shares of the industrial products company’s stock valued at $138,016,000 after purchasing an additional 106,271 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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Shares of NYSE:XYL traded down $2.20 on Friday, reaching $75.40. 1,176,509 shares of the company traded hands, compared to its average volume of 856,590. The company has a current ratio of 1.88, a quick ratio of 1.41 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $13,959.70, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. Xylem Inc has a 52 week low of $48.81 and a 52 week high of $79.83.

Xylem (NYSE:XYL) last posted its earnings results on Thursday, February 1st. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Xylem had a return on equity of 17.95% and a net margin of 7.03%. Xylem’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. research analysts predict that Xylem Inc will post 2.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.11%. This is a boost from Xylem’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 14th. Xylem’s payout ratio is presently 35.00%.

In related news, Director Curtis J. Crawford sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $71.77, for a total value of $570,427.96. Following the completion of the transaction, the director now directly owns 55,245 shares in the company, valued at approximately $3,964,933.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tomas Brannemo sold 11,716 shares of Xylem stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $73.45, for a total transaction of $860,540.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,105 shares of company stock worth $1,540,907. Insiders own 0.75% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Xylem from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, March 20th. ValuEngine raised Xylem from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Canaccord Genuity reissued a “hold” rating and issued a $65.00 price objective on shares of Xylem in a research note on Monday, December 11th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $80.00 target price on shares of Xylem in a report on Thursday, January 4th. Finally, BMO Capital Markets reissued a “buy” rating and set a $83.00 price objective on shares of Xylem in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.00.

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Xylem Profile

Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.

Institutional Ownership by Quarter for Xylem (NYSE:XYL)

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