V Square Quantitative Management LLC acquired a new position in shares of Xylem Inc. (NYSE:XYL – Free Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,987 shares of the industrial products company’s stock, valued at approximately $951,000.
Several other institutional investors and hedge funds have also made changes to their positions in XYL. Schroder Investment Management Group boosted its position in shares of Xylem by 2,055.2% during the 3rd quarter. Schroder Investment Management Group now owns 1,192,682 shares of the industrial products company’s stock worth $171,687,000 after acquiring an additional 1,137,342 shares in the last quarter. Swedbank AB lifted its holdings in shares of Xylem by 19.0% in the 3rd quarter. Swedbank AB now owns 5,197,753 shares of the industrial products company’s stock valued at $766,669,000 after purchasing an additional 830,821 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Xylem by 544.0% in the 3rd quarter. Voya Investment Management LLC now owns 868,755 shares of the industrial products company’s stock valued at $128,141,000 after purchasing an additional 733,860 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Xylem by 346.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 712,950 shares of the industrial products company’s stock valued at $105,160,000 after purchasing an additional 553,152 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Xylem in the 2nd quarter valued at about $64,407,000. 87.96% of the stock is owned by institutional investors and hedge funds.
Xylem Stock Up 1.3%
XYL opened at $129.57 on Friday. The business has a 50 day moving average price of $126.58 and a two-hundred day moving average price of $137.29. The company has a quick ratio of 1.28, a current ratio of 1.62 and a debt-to-equity ratio of 0.12. The company has a market cap of $31.50 billion, a PE ratio of 33.05, a P/E/G ratio of 1.83 and a beta of 1.18. Xylem Inc. has a 52 week low of $104.14 and a 52 week high of $154.27.
Xylem declared that its board has initiated a stock buyback program on Wednesday, February 25th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
Xylem Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, February 24th. This is a positive change from Xylem’s previous quarterly dividend of $0.40. Xylem’s payout ratio is presently 43.88%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Wall Street Zen downgraded Xylem from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. TD Cowen reissued a “hold” rating on shares of Xylem in a report on Monday, February 23rd. Robert W. Baird set a $161.00 target price on Xylem in a report on Wednesday, February 11th. The Goldman Sachs Group set a $158.00 target price on Xylem in a report on Wednesday, February 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 price objective (down from $140.00) on shares of Xylem in a research note on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.31.
Read Our Latest Report on Xylem
Xylem 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.
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