Xylem Inc. (XYL) Stake Reduced by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. reduced its position in Xylem Inc. (NYSE:XYL) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 3,990 shares of the industrial products company’s stock after selling 61 shares during the period. Wetherby Asset Management Inc.’s holdings in Xylem were worth $221,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of XYL. Vanguard Group Inc. raised its stake in Xylem by 3.7% in the first quarter. Vanguard Group Inc. now owns 17,287,871 shares of the industrial products company’s stock worth $868,197,000 after buying an additional 619,368 shares during the period. BlackRock Inc. raised its stake in Xylem by 2,452.8% in the first quarter. BlackRock Inc. now owns 12,042,342 shares of the industrial products company’s stock worth $604,765,000 after buying an additional 11,570,613 shares during the period. Pictet Asset Management Ltd. raised its stake in Xylem by 7.9% in the second quarter. Pictet Asset Management Ltd. now owns 4,342,944 shares of the industrial products company’s stock worth $226,441,000 after buying an additional 318,756 shares during the period. Janus Capital Management LLC raised its stake in Xylem by 3.5% in the first quarter. Janus Capital Management LLC now owns 2,563,661 shares of the industrial products company’s stock worth $128,747,000 after buying an additional 86,938 shares during the period. Finally, Impax Asset Management LTD raised its stake in Xylem by 24.5% in the first quarter. Impax Asset Management LTD now owns 2,404,602 shares of the industrial products company’s stock worth $120,758,000 after buying an additional 472,504 shares during the period. 87.16% of the stock is currently owned by institutional investors.
Xylem Inc. (NYSE:XYL) opened at 58.95 on Friday. Xylem Inc. has a one year low of $45.60 and a one year high of $60.71. The company’s 50 day moving average is $57.39 and its 200 day moving average is $52.24. The stock has a market cap of $10.59 billion, a PE ratio of 38.06 and a beta of 1.18.
Xylem (NYSE:XYL) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Xylem had a net margin of 6.58% and a return on equity of 17.26%. Xylem’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities research analysts expect that Xylem Inc. will post $2.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. Xylem’s payout ratio is currently 46.45%.
A number of equities analysts have commented on the stock. CIBC restated a “buy” rating on shares of Xylem in a research note on Wednesday, May 10th. BMO Capital Markets upped their target price on shares of Xylem from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Canaccord Genuity reiterated a “hold” rating and set a $50.00 price objective on shares of Xylem in a research note on Friday, July 28th. Royal Bank Of Canada increased their price objective on shares of Xylem from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $52.00 price objective on shares of Xylem in a research note on Friday, May 26th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $59.00.
In other Xylem news, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction 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 owns 35,303 shares in the company, valued at approximately $2,123,828.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven R. Loranger sold 66,132 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $55.01, for a total transaction of $3,637,921.32. Following the transaction, the director now owns 65,030 shares of the company’s stock, valued at approximately $3,577,300.30. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
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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