First Mercantile Trust Co. cut its position in Xylem Inc. (NYSE:XYL) by 15.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,720 shares of the company’s stock after selling 1,370 shares during the period. First Mercantile Trust Co.’s holdings in Xylem were worth $345,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new stake in Xylem during the second quarter valued at approximately $263,000. Dynamic Technology Lab Private Ltd acquired a new stake in Xylem during the second quarter valued at approximately $245,000. Westpac Banking Corp increased its stake in Xylem by 24.4% in the second quarter. Westpac Banking Corp now owns 11,439 shares of the company’s stock valued at $511,000 after buying an additional 2,246 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in Xylem by 122.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,323 shares of the company’s stock valued at $104,000 after buying an additional 1,277 shares during the period. Finally, Vanguard Group Inc. increased its stake in Xylem by 2.7% in the second quarter. Vanguard Group Inc. now owns 15,709,412 shares of the company’s stock valued at $701,425,000 after buying an additional 406,831 shares during the period. 84.70% of the stock is currently owned by institutional investors.
Shares of Xylem Inc. (NYSE:XYL) opened at 51.82 on Friday. Xylem Inc. has a 12 month low of $31.67 and a 12 month high of $52.68. The stock’s 50 day moving average price is $50.64 and its 200 day moving average price is $45.58. The company has a market capitalization of $9.29 billion, a PE ratio of 27.67 and a beta of 1.15.
Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Xylem had a return on equity of 16.41% and a net margin of 9.22%. The firm had revenue of $932 million for the quarter, compared to analysts’ expectations of $927.69 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts forecast that Xylem Inc. will post $2.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given a dividend of $0.1549 per share. The ex-dividend date was Monday, August 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.20%. Xylem’s payout ratio is currently 33.16%.
Several research firms have commented on XYL. Atlantic Securities raised shares of Xylem from a “neutral” rating to an “overweight” rating and set a $54.00 price objective on the stock in a report on Monday, August 22nd. Canaccord Genuity reaffirmed a “hold” rating and set a $50.00 price objective (up from $45.00) on shares of Xylem in a report on Tuesday, August 16th. RBC Capital Markets set a $51.00 price objective on shares of Xylem and gave the company a “buy” rating in a report on Tuesday, August 16th. Royal Bank Of Canada upped their price objective on shares of Xylem from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Finally, Barclays PLC upped their price objective on shares of Xylem from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.00.
In related news, insider Tomas Brannemo sold 8,524 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $50.06, for a total value of $426,711.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven R. Loranger sold 33,887 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $48.11, for a total value of $1,630,303.57. Following the completion of the transaction, the director now directly owns 11,243 shares in the company, valued at $540,900.73. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.
Xylem Inc is engaged in the design, manufacturing, and application of engineered technologies for the water industry. The Company 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.
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