Eastern Bank bought a new stake in Xylem Inc. (NYSE:XYL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,645 shares of the industrial products company’s stock, valued at approximately $202,000.
Several other large investors have also modified their holdings of XYL. Vanguard Group Inc. raised its stake in shares of Xylem by 3.7% in the first quarter. Vanguard Group Inc. now owns 17,287,871 shares of the industrial products company’s stock valued at $868,197,000 after buying an additional 619,368 shares during the period. BlackRock Inc. raised its stake in shares of Xylem by 2,452.8% in the first quarter. BlackRock Inc. now owns 12,042,342 shares of the industrial products company’s stock valued at $604,765,000 after buying an additional 11,570,613 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Xylem by 34.3% in the first quarter. Pictet Asset Management Ltd. now owns 4,024,188 shares of the industrial products company’s stock valued at $202,095,000 after buying an additional 1,027,438 shares during the period. Janus Capital Management LLC raised its stake in shares of 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 valued at $128,747,000 after buying an additional 86,938 shares during the period. Finally, Impax Asset Management LTD raised its stake in shares of 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 valued at $120,758,000 after buying an additional 472,504 shares during the period. 87.16% of the stock is currently owned by institutional investors and hedge funds.
Xylem Inc. (NYSE XYL) opened at 59.03 on Friday. Xylem Inc. has a 12-month low of $45.60 and a 12-month high of $60.71. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 38.11 and a beta of 1.18. The stock has a 50 day moving average price of $57.50 and a 200-day moving average price of $52.31.
Xylem (NYSE:XYL) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Xylem had a return on equity of 17.26% and a net margin of 6.58%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.48 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Equities analysts forecast that Xylem Inc. will post $2.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, August 29th. Xylem’s dividend payout ratio is currently 46.45%.
Several equities research analysts have recently weighed in on XYL shares. CIBC reissued a “buy” rating on shares of Xylem in a research report on Wednesday, May 10th. BMO Capital Markets raised their target price on Xylem from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Canaccord Genuity reissued a “hold” rating and set a $50.00 target price on shares of Xylem in a research report on Friday, July 28th. Royal Bank Of Canada raised their target price on Xylem from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $52.00 target price on shares of Xylem in a research report on Friday, May 26th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $59.00.
In related news, Director Steven R. Loranger sold 66,132 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $55.01, for a total value of $3,637,921.32. Following the sale, the director now directly owns 65,030 shares in the company, valued at approximately $3,577,300.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Napolitano sold 9,052 shares of the firm’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 value of $544,568.32. Following the completion of the sale, the insider now owns 35,303 shares in the company, valued at $2,123,828.48. The disclosure for this sale can be found here. 0.75% of the stock is owned by company 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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