Veritas Investment Management LLP grew its position in shares of Xylem Inc (NYSE:XYL) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 777,400 shares of the industrial products company’s stock after acquiring an additional 22,275 shares during the quarter. Xylem comprises approximately 5.4% of Veritas Investment Management LLP’s holdings, making the stock its 9th largest holding. Veritas Investment Management LLP’s holdings in Xylem were worth $61,881,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parnassus Investments CA lifted its position in Xylem by 2.0% in the third quarter. Parnassus Investments CA now owns 6,533,437 shares of the industrial products company’s stock worth $520,192,000 after buying an additional 126,027 shares during the last quarter. Invesco Ltd. increased its stake in Xylem by 0.6% in the second quarter. Invesco Ltd. now owns 2,052,305 shares of the industrial products company’s stock worth $171,654,000 after purchasing an additional 11,266 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Xylem by 12.1% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,966,002 shares of the industrial products company’s stock worth $486,505,000 after purchasing an additional 211,944 shares during the period. Wells Fargo & Company MN increased its stake in Xylem by 21.0% in the second quarter. Wells Fargo & Company MN now owns 1,157,711 shares of the industrial products company’s stock worth $96,831,000 after purchasing an additional 201,248 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Xylem by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,119,415 shares of the industrial products company’s stock worth $93,628,000 after purchasing an additional 31,957 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.
In related news, Director Markos I. Tambakeras sold 2,860 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $78.95, for a total transaction of $225,797.00. Following the sale, the director now owns 43,530 shares of the company’s stock, valued at $3,436,693.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Colin R. Sabol sold 4,099 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $78.37, for a total value of $321,238.63. Following the sale, the senior vice president now directly owns 33,518 shares in the company, valued at approximately $2,626,805.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,959 shares of company stock worth $1,313,986. 0.85% of the stock is owned by corporate insiders.
A number of analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Xylem in a research note on Friday, September 20th. They issued a “buy” rating and a $90.00 target price on the stock. ValuEngine lowered Xylem from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada set a $79.00 price target on Xylem and gave the company a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research lowered Xylem from a “hold” rating to a “sell” rating and set a $82.00 price target on the stock. in a research note on Monday, October 14th. Finally, Seaport Global Securities lowered Xylem from a “buy” rating to a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Xylem has a consensus rating of “Hold” and an average target price of $82.30.
Shares of Xylem stock traded down $1.52 during trading on Monday, hitting $75.81. 914,120 shares of the stock traded hands, compared to its average volume of 838,117. The firm has a market cap of $14.35 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.18. The company has a current ratio of 1.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.70. Xylem Inc has a 52-week low of $60.65 and a 52-week high of $85.67. The stock’s fifty day simple moving average is $78.69 and its 200 day simple moving average is $78.88.
Xylem (NYSE:XYL) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.82. Xylem had a return on equity of 19.14% and a net margin of 9.65%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts expect that Xylem Inc will post 3.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, October 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, October 30th. Xylem’s payout ratio is currently 33.33%.
Xylem Inc engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications. It operates in three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. The Water Infrastructure segment offers various products, including water and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment under the Flygt, Godwin, Wedeco, Sanitaire, and Leopold names for the transportation and treatment of water.
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