Kornitzer Capital Management Inc. KS Cuts Holdings in Xylem Inc. $XYL

Kornitzer Capital Management Inc. KS reduced its position in shares of Xylem Inc. (NYSE:XYL) by 56.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,483 shares of the industrial products company’s stock after selling 20,220 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Xylem were worth $2,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its holdings in Xylem by 1,844.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 175 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 166 shares during the period. First Horizon Corp acquired a new position in shares of Xylem during the 3rd quarter worth approximately $30,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Xylem during the 3rd quarter valued at approximately $34,000. Caldwell Trust Co acquired a new stake in Xylem in the 2nd quarter valued at $41,000. Finally, FWL Investment Management LLC acquired a new stake in Xylem in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling

In other Xylem news, Director Victoria D. Harker sold 1,700 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $148.14, for a total transaction of $251,838.00. Following the transaction, the director owned 16,875 shares of the company’s stock, valued at approximately $2,499,862.50. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Xylem Stock Performance

XYL opened at $135.49 on Thursday. Xylem Inc. has a twelve month low of $100.47 and a twelve month high of $154.27. The firm has a market capitalization of $32.99 billion, a PE ratio of 34.83, a PEG ratio of 1.99 and a beta of 1.17. The company has a current ratio of 1.96, a quick ratio of 1.50 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $139.65 and its 200 day moving average price is $141.71.

Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.14. Xylem had a net margin of 10.66% and a return on equity of 10.77%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. Xylem’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Xylem Inc. will post 4.65 EPS for the current fiscal year.

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, November 25th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, November 25th. Xylem’s dividend payout ratio (DPR) is currently 41.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective on shares of Xylem from $172.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. William Blair assumed coverage on shares of Xylem in a research report on Monday. They set an “outperform” rating for the company. Wall Street Zen lowered shares of Xylem from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Xylem in a report on Monday, December 29th. Finally, Robert W. Baird set a $178.00 price objective on Xylem in a research note on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.80.

Xylem Company Profile

Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.

The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.