Wells Fargo & Company MN Grows Stake in Xylem Inc. (XYL)
Wells Fargo & Company MN grew its stake in shares of Xylem Inc. (NYSE:XYL) by 8.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 182,960 shares of the industrial products company’s stock after acquiring an additional 14,203 shares during the period. Wells Fargo & Company MN owned about 0.10% of Xylem worth $10,141,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co grew its position in shares of Xylem by 160.3% during the 2nd quarter. CENTRAL TRUST Co now owns 2,655 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 1,635 shares during the period. FNY Partners Fund LP bought a new position in shares of Xylem during the 1st quarter valued at approximately $151,000. Federated Investors Inc. PA grew its position in shares of Xylem by 5.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,286 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 181 shares during the period. Farmers & Merchants Investments Inc. grew its position in shares of Xylem by 0.7% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 3,445 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 25 shares during the period. Finally, Eastern Bank bought a new position in shares of Xylem during the 2nd quarter valued at approximately $202,000. 86.43% of the stock is owned by hedge funds and other institutional investors.
XYL has been the subject of a number of research reports. BidaskClub raised shares of Xylem from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets began 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. Boenning Scattergood reaffirmed an “outperform” rating on shares of Xylem in a report on Tuesday, September 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Xylem in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. set a $58.00 price objective on shares of Xylem and gave the stock a “buy” rating in a report on Tuesday, June 20th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Xylem has a consensus rating of “Buy” and a consensus target price of $60.77.
Xylem Inc. (XYL) opened at 64.52 on Thursday. The firm has a 50-day moving average of $62.22 and a 200 day moving average of $55.62. Xylem Inc. has a one year low of $45.60 and a one year high of $64.80. The company has a market capitalization of $11.59 billion, a P/E ratio of 41.65 and a beta of 1.17.
Xylem (NYSE:XYL) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, beating the Zacks’ 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. On average, equities analysts forecast that Xylem Inc. will post $2.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Xylem’s dividend payout ratio is currently 46.45%.
In other Xylem 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 completion of the sale, the insider now directly owns 35,303 shares of the company’s stock, valued at $2,123,828.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently 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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