Covington Capital Management Boosts Stake in Xylem Inc (NYSE:XYL)

Covington Capital Management grew its position in shares of Xylem Inc (NYSE:XYL) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,380 shares of the industrial products company’s stock after acquiring an additional 230 shares during the period. Covington Capital Management’s holdings in Xylem were worth $739,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Xylem by 10.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,257 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 123 shares in the last quarter. Goelzer Investment Management Inc. lifted its position in Xylem by 0.5% in the 4th quarter. Goelzer Investment Management Inc. now owns 26,309 shares of the industrial products company’s stock valued at $2,073,000 after acquiring an additional 143 shares in the last quarter. CAPROCK Group Inc. lifted its position in Xylem by 3.0% in the 4th quarter. CAPROCK Group Inc. now owns 5,143 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 149 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in Xylem by 61.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 393 shares of the industrial products company’s stock valued at $31,000 after buying an additional 150 shares during the last quarter. Finally, Huntington National Bank raised its stake in Xylem by 2.2% during the 4th quarter. Huntington National Bank now owns 7,169 shares of the industrial products company’s stock valued at $565,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

In other news, SVP Pak Steven Leung sold 4,472 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $84.91, for a total value of $379,717.52. Following the completion of the sale, the senior vice president now directly owns 29,561 shares in the company, valued at approximately $2,510,024.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Colin R. Sabol sold 4,080 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $79.26, for a total value of $323,380.80. Following the completion of the sale, the senior vice president now owns 26,434 shares of the company’s stock, valued at approximately $2,095,158.84. The disclosure for this sale can be found here. Insiders sold a total of 9,692 shares of company stock valued at $795,188 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

NYSE:XYL opened at $63.86 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 1.27. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Xylem Inc has a one year low of $54.62 and a one year high of $89.34. The business has a fifty day moving average price of $78.65 and a 200-day moving average price of $78.81.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Xylem had a return on equity of 18.90% and a net margin of 7.64%. Xylem’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities research analysts expect that Xylem Inc will post 3.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, February 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.63%. This is a positive change from Xylem’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, February 26th. Xylem’s dividend payout ratio is 34.44%.

A number of brokerages have weighed in on XYL. Boenning Scattergood lowered shares of Xylem from an “outperform” rating to a “neutral” rating in a research note on Monday. Credit Suisse Group lowered shares of Xylem from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $79.00 to $74.00 in a research note on Tuesday, March 10th. Jefferies Financial Group lowered shares of Xylem from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $70.00 in a research note on Thursday, December 5th. Citigroup began coverage on shares of Xylem in a research note on Friday, February 14th. They set a “neutral” rating and a $92.00 target price for the company. They noted that the move was a valuation call. Finally, Rosenblatt Securities began coverage on shares of Xylem in a research note on Friday, February 14th. They set a “neutral” rating and a $92.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $81.60.

About Xylem

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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Institutional Ownership by Quarter for Xylem (NYSE:XYL)

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