Northcoast Research Initiates Coverage on Xylem Inc. (XYL)
Equities research analysts at Northcoast Research assumed coverage on shares of Xylem Inc. (NYSE:XYL) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.
Other analysts also recently issued reports about the company. Royal Bank Of Canada increased their target price on Xylem from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, August 16th. 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. Canaccord Genuity reiterated a “hold” rating and set a $50.00 target price (up from $45.00) on shares of Xylem in a research note on Tuesday, August 16th. Atlantic Securities upgraded Xylem from a “neutral” rating to an “overweight” rating and set a $54.00 target price on the stock in a research note on Monday, August 22nd. Finally, Janney Montgomery Scott upgraded Xylem from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $52.00 in a research note on Wednesday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.69.
Shares of Xylem (NYSE:XYL) opened at 53.29 on Thursday. The company’s 50 day moving average price is $49.96 and its 200-day moving average price is $47.50. Xylem has a 1-year low of $31.67 and a 1-year high of $53.96. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 29.57 and a beta of 1.18.
Xylem (NYSE:XYL) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $897 million for the quarter, compared to the consensus estimate of $913.53 million. Xylem had a return on equity of 16.38% and a net margin of 8.83%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities analysts forecast that Xylem will post $2.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 7th. Stockholders of record on Wednesday, November 9th will be paid a $0.1549 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, November 7th. Xylem’s dividend payout ratio (DPR) is 34.44%.
In related news, insider Colin R. Sabol sold 27,473 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $50.91, for a total transaction of $1,398,650.43. Following the completion of the transaction, the insider now directly owns 65,530 shares of the company’s stock, valued at $3,336,132.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Claudia S. Toussaint sold 5,300 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.27, for a total value of $250,531.00. Following the transaction, the senior vice president now directly owns 44,033 shares of the company’s stock, valued at $2,081,439.91. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in XYL. DNB Asset Management AS raised its position in shares of Xylem by 8.5% in the second quarter. DNB Asset Management AS now owns 19,219 shares of the company’s stock worth $858,000 after buying an additional 1,500 shares during the last quarter. British Columbia Investment Management Corp raised its position in shares of Xylem by 32.7% in the second quarter. British Columbia Investment Management Corp now owns 425,112 shares of the company’s stock worth $18,981,000 after buying an additional 104,727 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Xylem during the first quarter worth approximately $350,000. Gardiner Nancy B purchased a new position in shares of Xylem during the first quarter worth approximately $204,000. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Xylem during the first quarter worth approximately $180,000. 84.62% of the stock is owned by institutional investors.
Xylem Company Profile
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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