Kornitzer Capital Management Inc. KS Sells 20,220 Shares of Xylem Inc. $XYL

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

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

Insider Transactions at Xylem

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

Wall Street Analysts Forecast Growth

XYL has been the topic of a number of research analyst reports. William Blair started coverage on Xylem in a research note on Monday. They set an “outperform” rating on the stock. Citigroup upped their price target on shares of Xylem from $173.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Argus set a $170.00 price objective on shares of Xylem in a research note on Wednesday, October 29th. Barclays dropped their price objective on shares of Xylem from $172.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Stifel Nicolaus raised their target price on Xylem from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Xylem has a consensus rating of “Moderate Buy” and an average price target of $165.80.

Xylem Price Performance

NYSE:XYL opened at $135.49 on Thursday. The firm’s fifty day moving average is $139.65 and its two-hundred day moving average is $141.71. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.50 and a current ratio of 1.96. Xylem Inc. has a one year low of $100.47 and a one year high of $154.27.

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

Xylem Announces Dividend

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

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.