Oppenheimer Holdings, Inc. Reaffirms Buy Rating for Xylem Inc. (XYL)
Oppenheimer Holdings, Inc. restated their buy rating on shares of Xylem Inc. (NYSE:XYL) in a research note released on Tuesday morning. Oppenheimer Holdings also issued estimates for Xylem’s FY2017 earnings at $2.40 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $3.25 EPS.
Several other brokerages have also recently weighed in on XYL. Stifel Nicolaus reiterated a hold rating and issued a $63.00 price objective on shares of Xylem in a research note on Friday, October 13th. Canaccord Genuity restated a hold rating and issued a $56.00 target price on shares of Xylem in a research report on Friday, October 6th. Royal Bank Of Canada restated an outperform rating and issued a $71.00 target price (up from $64.00) on shares of Xylem in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Xylem from a hold rating to a buy rating and set a $71.00 target price for the company in a research report on Thursday, October 5th. Finally, Cowen and Company restated a buy rating and issued a $70.00 target price on shares of Xylem in a research report on Thursday, September 21st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $65.17.
Xylem (NYSE:XYL) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Xylem had a net margin of 6.85% and a return on equity of 17.74%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s revenue was up 33.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Thursday, November 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 1st. Xylem’s dividend payout ratio is 41.86%.
In related 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 transaction, the insider now directly owns 35,303 shares in the company, valued at approximately $2,123,828.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Harfst & Associates Inc. increased its position in Xylem by 26.1% during the 2nd quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 503 shares in the last quarter. CENTRAL TRUST Co increased its position in 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 purchasing an additional 1,635 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Xylem during the 2nd quarter worth approximately $168,000. Federated Investors Inc. PA increased its position in 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 purchasing an additional 181 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in 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 purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 86.59% of the company’s stock.
Xylem Company Profile
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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