Xylem Inc. (XYL) Stake Lowered by ProShare Advisors LLC
ProShare Advisors LLC lessened its stake in Xylem Inc. (NYSE:XYL) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,604 shares of the industrial products company’s stock after selling 682 shares during the quarter. ProShare Advisors LLC’s holdings in Xylem were worth $809,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its holdings in Xylem by 9.4% during the first quarter. UBS Asset Management Americas Inc. now owns 474,541 shares of the industrial products company’s stock worth $23,831,000 after buying an additional 40,904 shares during the last quarter. Mason Street Advisors LLC raised its position in Xylem by 1.1% during the first quarter. Mason Street Advisors LLC now owns 24,802 shares of the industrial products company’s stock worth $1,246,000 after acquiring an additional 262 shares in the last quarter. Pacer Advisors Inc. raised its position in Xylem by 3.4% during the first quarter. Pacer Advisors Inc. now owns 3,701 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 121 shares in the last quarter. Nordea Investment Management AB raised its position in Xylem by 54.8% during the first quarter. Nordea Investment Management AB now owns 14,861 shares of the industrial products company’s stock worth $746,000 after acquiring an additional 5,262 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Xylem by 16.4% during the first quarter. JPMorgan Chase & Co. now owns 500,624 shares of the industrial products company’s stock worth $25,141,000 after acquiring an additional 70,369 shares in the last quarter. 86.43% of the stock is owned by institutional investors.
Xylem Inc. (NYSE:XYL) opened at 62.63 on Monday. The firm has a 50-day moving average of $60.96 and a 200 day moving average of $54.45. Xylem Inc. has a 12-month low of $45.60 and a 12-month high of $64.80. The company has a market capitalization of $11.25 billion, a PE ratio of 40.43 and a beta of 1.17.
Xylem (NYSE:XYL) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The company’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. Analysts forecast that Xylem Inc. will post $2.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Thursday, August 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, August 29th. Xylem’s payout ratio is currently 46.45%.
In related news, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction that occurred 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 directly owns 35,303 shares in the company, valued at approximately $2,123,828.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.
A number of brokerages have commented on XYL. Boenning Scattergood reiterated a “buy” rating and issued a $55.00 price target on shares of Xylem in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Xylem from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. BMO Capital Markets started coverage on shares of Xylem in a research note on Wednesday, June 21st. They set an “outperform” rating and a $60.00 price objective on the stock. Oppenheimer Holdings, Inc. set a $58.00 target price on shares of Xylem and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research raised shares of Xylem from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.67.
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Xylem Company Profile
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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