Xylem’s (XYL) “Buy” Rating Reiterated at Boenning Scattergood
Boenning Scattergood reiterated their buy rating on shares of Xylem (NYSE:XYL) in a report issued on Friday morning. Boenning Scattergood also issued estimates for Xylem’s Q2 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.91 EPS and FY2018 earnings at $2.82 EPS.
“We came away seeing the deal as a potential game-changer, creating an infrastructure diagnostics platform that is unprecedented in terms of product breadth, financial scale, channel bandwidth, and marketing heft, and positioning Xylem to transform what has long been a promising (yet frustratingly slow to develop) niche of the water market into a source of robust profitable growth and value creation. Competitors are already actively plotting evasive action, particularly on the pricing front, where there is a view that synergies could enable Xylem to accelerate growth by bringing down Pure’s infamously high pricing (historically an important selling point used successfully by competitors). Equally important, the deal creates a unique combination of diagnostics and metering that is well- timed given the market’s evolution from meter-based leak detection to standalone condition assessment solutions.”,” the firm’s analyst wrote.
Other analysts have also recently issued reports about the company. Oppenheimer raised their price objective on Xylem from $66.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday, November 1st. Cowen reaffirmed a buy rating and issued a $70.00 price objective on shares of Xylem in a research report on Thursday, September 21st. Canaccord Genuity reaffirmed a hold rating and issued a $65.00 price objective on shares of Xylem in a research report on Wednesday, November 1st. Robert W. Baird reissued a hold rating and set a $67.00 price target on shares of Xylem in a report on Wednesday, October 4th. Finally, Seaport Global Securities reissued a buy rating on shares of Xylem in a report on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $65.17.
Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.65 EPS for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. equities analysts predict that Xylem will post 2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Thursday, November 2nd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $0.72 annualized dividend and a yield of 1.06%. Xylem’s payout ratio is currently 41.86%.
In other Xylem news, Director Steven R. Loranger sold 37,700 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $66.25, for a total transaction of $2,497,625.00. Following the transaction, the director now owns 58,831 shares in the company, valued at approximately $3,897,553.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Curtis J. Crawford sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $66.44, for a total value of $498,300.00. Following the transaction, the director now owns 52,385 shares in the company, valued at approximately $3,480,459.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,666 shares of company stock valued at $5,528,289. 0.75% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Invictus RG bought a new position in shares of Xylem in the 3rd quarter valued at $104,000. Harfst & Associates Inc. increased its stake in shares of Xylem by 26.1% in the 2nd quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 503 shares during the last quarter. FNY Partners Fund LP increased its stake in shares of Xylem by 2,700.0% in the 3rd quarter. FNY Partners Fund LP now owns 2,800 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 2,700 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Xylem in the 2nd quarter valued at $168,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Xylem in the 3rd quarter valued at $205,000. Institutional investors own 85.57% of the company’s stock.
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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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