Parnassus Investments CA Trims Holdings in Xylem Inc. (XYL)
Parnassus Investments CA reduced its position in shares of Xylem Inc. (NYSE:XYL) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,014,390 shares of the industrial products company’s stock after selling 266,601 shares during the quarter. Xylem comprises about 1.5% of Parnassus Investments CA’s portfolio, making the stock its 28th biggest position. Parnassus Investments CA owned 3.35% of Xylem worth $376,681,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Xylem by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,697,791 shares of the industrial products company’s stock worth $980,989,000 after purchasing an additional 409,920 shares during the period. State Street Corp increased its holdings in Xylem by 11.5% during the 2nd quarter. State Street Corp now owns 8,360,506 shares of the industrial products company’s stock worth $460,211,000 after purchasing an additional 861,484 shares during the period. Pictet Asset Management Ltd. increased its holdings in Xylem by 7.9% during the 2nd quarter. Pictet Asset Management Ltd. now owns 4,342,944 shares of the industrial products company’s stock worth $226,441,000 after purchasing an additional 318,756 shares during the period. FMR LLC increased its holdings in Xylem by 7.7% during the 2nd quarter. FMR LLC now owns 3,239,067 shares of the industrial products company’s stock worth $179,541,000 after purchasing an additional 232,139 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Xylem by 17.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,727,985 shares of the industrial products company’s stock worth $151,210,000 after purchasing an additional 396,854 shares during the period. Institutional investors own 86.49% of the company’s stock.
Several research analysts have commented on the company. Seaport Global Securities restated a “buy” rating on shares of Xylem in a report on Wednesday, November 1st. BMO Capital Markets raised their price objective on Xylem from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Oppenheimer Holdings, Inc. raised their price objective on Xylem from $66.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Canaccord Genuity restated a “hold” rating and set a $65.00 price objective on shares of Xylem in a report on Wednesday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $63.00 price target on shares of Xylem in a 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 stock. Xylem presently has a consensus rating of “Buy” and an average price target of $65.17.
Shares of Xylem Inc. (XYL) traded up $0.18 during mid-day trading on Monday, reaching $66.75. The company had a trading volume of 209,597 shares, compared to its average volume of 989,264. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.26 and a current ratio of 1.76. The stock has a market capitalization of $11,955.97, a PE ratio of 29.07, a P/E/G ratio of 1.86 and a beta of 1.16.
Xylem (NYSE:XYL) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Xylem had a return on equity of 17.74% and a net margin of 6.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. research analysts predict that Xylem Inc. will post 2.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Thursday, November 2nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.72 annualized dividend and a yield of 1.08%. Xylem’s dividend payout ratio (DPR) is 41.86%.
In related news, insider Kenneth Napolitano sold 9,052 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total transaction of $544,568.32. Following the transaction, the insider now directly owns 35,303 shares in the company, valued at approximately $2,123,828.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.75% of the stock is owned by insiders.
TRADEMARK VIOLATION NOTICE: This story was first reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/parnassus-investments-ca-trims-holdings-in-xylem-inc-xyl/1682892.html.
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.
Receive News & Ratings for Xylem Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xylem Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.