Westpac Banking Corp increased its stake in Xylem Inc. (NYSE:XYL) by 24.4% during the second quarter, Holdings Channel reports. The firm owned 11,439 shares of the company’s stock after buying an additional 2,246 shares during the period. Westpac Banking Corp’s holdings in Xylem were worth $511,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Mizuho Asset Management Co. Ltd. increased its stake in shares of 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 last quarter. Glenmede Trust Co. NA increased its stake in shares of Xylem by 9.4% in the second quarter. Glenmede Trust Co. NA now owns 2,908 shares of the company’s stock valued at $129,000 after buying an additional 250 shares during the last quarter. Evercore Wealth Management LLC increased its stake in shares of Xylem by 6.3% in the second quarter. Evercore Wealth Management LLC now owns 3,315 shares of the company’s stock valued at $148,000 after buying an additional 195 shares during the last quarter. Invictus RG acquired a new stake in shares of Xylem during the first quarter valued at $142,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Xylem during the second quarter valued at $162,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Xylem Inc. (NYSE:XYL) traded down 0.96% on Thursday, hitting $51.45. The stock had a trading volume of 69,293 shares. The company has a market capitalization of $9.22 billion, a P/E ratio of 27.47 and a beta of 1.15. Xylem Inc. has a one year low of $31.67 and a one year high of $53.25. The firm has a 50 day moving average price of $50.98 and a 200 day moving average price of $46.02.
Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the 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 the consensus estimate of $927.69 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Xylem Inc. will post $2.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.1549 per share. This represents a $0.62 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, August 29th. Xylem’s dividend payout ratio is 33.16%.
Several brokerages have weighed in on XYL. RBC Capital Markets set a $51.00 target price on Xylem and gave the company a “buy” rating in a research note on Tuesday, August 16th. Barclays PLC lifted their price target on Xylem from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, July 18th. Canaccord Genuity reiterated a “hold” rating and set a $50.00 price target (up from $45.00) on shares of Xylem in a research report on Tuesday, August 16th. Zacks Investment Research cut Xylem from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Finally, Royal Bank Of Canada lifted their price target on Xylem from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Xylem currently has a consensus rating of “Hold” and a consensus target price of $45.00.
In other Xylem news, insider Tomas Brannemo sold 8,524 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $50.06, for a total transaction of $426,711.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven R. Loranger sold 32,246 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $48.01, for a total value of $1,548,130.46. Following the transaction, the director now directly owns 38,334 shares in the company, valued at approximately $1,840,415.34. The disclosure for this sale can be found here. Company 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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