Oppenheimer Asset Management Inc. Acquires Shares of 6,263 Xylem Inc. (XYL)
Oppenheimer Asset Management Inc. acquired a new stake in Xylem Inc. (NYSE:XYL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,263 shares of the industrial products company’s stock, valued at approximately $314,000.
Several other hedge funds have also recently modified their holdings of XYL. BlackRock Inc. raised its stake in shares of Xylem by 2,452.8% in the first quarter. BlackRock Inc. now owns 12,042,342 shares of the industrial products company’s stock valued at $604,765,000 after buying an additional 11,570,613 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Xylem during the first quarter valued at approximately $54,623,000. Marshall Wace North America L.P. purchased a new stake in shares of Xylem during the first quarter valued at approximately $54,623,000. Pictet Asset Management Ltd. raised its stake in shares of Xylem by 34.3% in the first quarter. Pictet Asset Management Ltd. now owns 4,024,188 shares of the industrial products company’s stock valued at $202,095,000 after buying an additional 1,027,438 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Xylem by 48.0% in the first quarter. Victory Capital Management Inc. now owns 2,102,511 shares of the industrial products company’s stock valued at $105,589,000 after buying an additional 682,050 shares in the last quarter. 85.76% of the stock is owned by institutional investors.
Xylem Inc. (NYSE:XYL) traded up 0.77% on Friday, hitting $60.02. The stock had a trading volume of 1,361,834 shares. The stock has a market cap of $10.78 billion, a PE ratio of 38.75 and a beta of 1.18. Xylem Inc. has a 12 month low of $45.60 and a 12 month high of $60.14. The firm’s 50 day moving average price is $55.49 and its 200-day moving average price is $51.39.
Xylem (NYSE:XYL) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Xylem had a net margin of 7.08% and a return on equity of 16.02%. Xylem’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. On average, analysts forecast that Xylem Inc. will post $2.36 EPS for the current year.
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Several research firms have issued reports on XYL. BMO Capital Markets boosted their price target on Xylem from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer Holdings, Inc. boosted their price target on Xylem from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank Of Canada boosted their price objective on Xylem from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday. BidaskClub downgraded Xylem from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Canaccord Genuity restated a “hold” rating and issued a $50.00 price objective on shares of Xylem in a research report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.23.
In other Xylem news, Director Steven R. Loranger sold 66,132 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $55.01, for a total transaction of $3,637,921.32. Following the transaction, the director now owns 65,030 shares of the company’s stock, valued at $3,577,300.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.
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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