Kornitzer Capital Management Inc. KS Lowers Holdings in Xylem Inc. (XYL)
Kornitzer Capital Management Inc. KS lessened its stake in Xylem Inc. (NYSE:XYL) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,476 shares of the industrial products company’s stock after selling 37,705 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.33% of Xylem worth $37,107,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Harfst & Associates Inc. increased its position in Xylem by 26.1% in the 2nd quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 503 shares in the last quarter. 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 worth $146,000 after buying an additional 1,635 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Xylem during the 2nd quarter worth approximately $168,000. 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 worth $182,000 after buying an additional 181 shares during the period. Finally, 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 worth $191,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 86.59% of the company’s stock.
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In other news, insider Kenneth Napolitano sold 9,052 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total value of $544,568.32. Following the sale, the insider now directly owns 35,303 shares in the company, valued at $2,123,828.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.
Several brokerages have recently commented on XYL. Seaport Global Securities reiterated a “buy” rating on shares of Xylem in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Xylem from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer Holdings, Inc. lifted their price target on shares of Xylem from $66.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity reiterated a “hold” rating and set a $65.00 price target on shares of Xylem in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $63.00 price target on shares of Xylem in a research report on Friday, October 13th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Xylem currently has a consensus rating of “Buy” and an average target price of $65.17.
Shares of Xylem Inc. (NYSE:XYL) traded down $0.49 during midday trading on Friday, reaching $66.57. 616,564 shares of the company were exchanged, compared to its average volume of 997,936. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.88. The stock has a market cap of $11,955.97, a price-to-earnings ratio of 29.07, a PEG ratio of 1.86 and a beta of 1.16.
Xylem (NYSE:XYL) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Xylem had a return on equity of 17.74% and a net margin of 6.85%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. equities research analysts predict that Xylem Inc. will post 2.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Thursday, November 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, November 1st. Xylem’s payout ratio is currently 41.86%.
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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