Sumitomo Mitsui Trust Holdings Inc. Cuts Position in Xylem Inc. (XYL)
Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Xylem Inc. (NYSE:XYL) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 543,943 shares of the industrial products company’s stock after selling 27,264 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Xylem worth $30,151,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XYL. BlackRock Inc. increased its position in Xylem by 2,452.8% in the first quarter. BlackRock Inc. now owns 12,042,342 shares of the industrial products company’s stock worth $604,765,000 after buying an additional 11,570,613 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Xylem during the first quarter worth $54,623,000. Marshall Wace North America L.P. bought a new position in Xylem during the first quarter worth $54,623,000. Pictet Asset Management Ltd. increased its position in 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 worth $202,095,000 after buying an additional 1,027,438 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Xylem during the second quarter worth $48,151,000. 86.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Xylem Inc. (NYSE:XYL) opened at 61.11 on Wednesday. The stock’s 50 day moving average is $58.12 and its 200 day moving average is $52.71. The stock has a market cap of $10.97 billion, a PE ratio of 39.45 and a beta of 1.18. Xylem Inc. has a 52-week low of $45.60 and a 52-week high of $61.22.
Xylem (NYSE:XYL) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. Equities research analysts forecast that Xylem Inc. will post $2.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.72 annualized dividend and a yield of 1.18%. Xylem’s dividend payout ratio (DPR) is presently 46.45%.
Several research analysts recently commented on XYL shares. BidaskClub raised shares of Xylem from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Barclays PLC raised shares of Xylem from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $51.00 to $59.00 in a report on Monday, May 15th. BMO Capital Markets started coverage on shares of Xylem in a report on Wednesday, June 21st. They issued an “outperform” rating and a $60.00 price objective for the company. CIBC reaffirmed a “buy” rating on shares of Xylem in a report on Wednesday, May 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Xylem in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $59.42.
In other Xylem news, insider Kenneth Napolitano sold 9,052 shares of Xylem stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total transaction of $544,568.32. Following the sale, the insider now owns 35,303 shares of the company’s stock, valued at approximately $2,123,828.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven R. Loranger sold 66,132 shares of Xylem stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $55.01, for a total transaction of $3,637,921.32. Following the sale, the director now directly owns 65,030 shares in the company, valued at approximately $3,577,300.30. The disclosure for this sale can be found here. 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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