Creative Planning lowered its stake in Xylem Inc (NYSE:XYL) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,313 shares of the industrial products company’s stock after selling 12 shares during the period. Creative Planning’s holdings in Xylem were worth $719,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Xylem during the fourth quarter valued at about $192,855,000. Allianz Asset Management AG raised its stake in shares of Xylem by 45.2% in the fourth quarter. Allianz Asset Management AG now owns 2,618,062 shares of the industrial products company’s stock valued at $129,646,000 after buying an additional 814,684 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Xylem during the fourth quarter valued at about $39,611,000. RidgeWorth Capital Management LLC purchased a new stake in shares of Xylem during the fourth quarter valued at about $37,965,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Xylem during the fourth quarter valued at about $29,635,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
Xylem Inc (NYSE:XYL) opened at 50.22 on Friday. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.63 and a beta of 1.21. Xylem Inc has a 1-year low of $40.95 and a 1-year high of $54.99. The stock has a 50 day moving average price of $49.25 and a 200-day moving average price of $49.75.
Xylem (NYSE:XYL) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Xylem had a net margin of 6.89% and a return on equity of 16.64%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts predict that Xylem Inc will post $2.29 earnings per share for the current year.
Several research firms have weighed in on XYL. Royal Bank of Canada restated a “buy” rating and set a $57.00 target price on shares of Xylem in a report on Sunday, March 12th. Goldman Sachs Group Inc began coverage on Xylem in a report on Wednesday, March 8th. They set a “neutral” rating and a $52.00 target price on the stock. Cowen and Company raised their target price on Xylem from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, March 24th. Gabelli lowered Xylem from a “buy” rating to a “hold” rating in a report on Wednesday, February 1st. Finally, Zacks Investment Research lowered Xylem from a “hold” rating to a “sell” rating in a report on Thursday, January 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Xylem presently has a consensus rating of “Buy” and a consensus price target of $52.67.
In other Xylem news, insider Tomas Brannemo sold 819 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $48.46, for a total transaction of $39,688.74. Following the transaction, the insider now owns 18,877 shares in the company, valued at approximately $914,779.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.
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.
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