Forbes J M & Co. LLP trimmed its position in Xylem Inc. (NYSE:XYL – Get Rating) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,388 shares of the industrial products company’s stock after selling 502 shares during the quarter. Forbes J M & Co. LLP owned 0.05% of Xylem worth $8,218,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Xylem by 7.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 91,536 shares of the industrial products company’s stock worth $7,804,000 after buying an additional 6,740 shares during the last quarter. M&T Bank Corp grew its position in shares of Xylem by 5.2% during the 1st quarter. M&T Bank Corp now owns 181,963 shares of the industrial products company’s stock worth $15,514,000 after buying an additional 9,053 shares during the period. Great Lakes Advisors LLC lifted its holdings in Xylem by 39.3% in the first quarter. Great Lakes Advisors LLC now owns 8,943 shares of the industrial products company’s stock valued at $763,000 after buying an additional 2,523 shares during the period. Balentine LLC bought a new position in Xylem in the first quarter valued at approximately $354,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Xylem by 4.7% in the 1st quarter. Quadrant Capital Group LLC now owns 3,266 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 147 shares during the period. 83.83% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Cowen raised Xylem from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday, June 1st. Morgan Stanley dropped their price target on Xylem from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, June 9th. Stifel Nicolaus raised Xylem from a “hold” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $94.00 in a research report on Wednesday, July 20th. Citigroup lifted their price target on shares of Xylem from $84.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Cowen raised Xylem from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.30.
Xylem Stock Performance
Xylem (NYSE:XYL – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.12. Xylem had a net margin of 8.06% and a return on equity of 13.66%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Xylem Inc. will post 2.58 earnings per share for the current year.
Xylem Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, May 26th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, May 25th. Xylem’s dividend payout ratio (DPR) is presently 51.72%.
Insider Buying and Selling
In other Xylem news, SVP Hayati Yarkadas sold 5,898 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $80.06, for a total value of $472,193.88. Following the sale, the senior vice president now owns 9,556 shares in the company, valued at $765,053.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Xylem news, SVP Hayati Yarkadas sold 5,898 shares of the stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $80.06, for a total value of $472,193.88. Following the completion of the transaction, the senior vice president now directly owns 9,556 shares in the company, valued at $765,053.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeanne Beliveau-Dunn sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $96.65, for a total transaction of $57,990.00. Following the completion of the transaction, the director now owns 7,553 shares of the company’s stock, valued at approximately $729,997.45. The disclosure for this sale can be found here. Insiders sold a total of 8,655 shares of company stock worth $691,104 in the last three months. 0.89% of the stock is owned by corporate insiders.
Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions.
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