Shell Asset Management Co. Raises Stake in Xylem Inc. (XYL)
Shell Asset Management Co. boosted its position in Xylem Inc. (NYSE:XYL) by 34.5% during the second quarter, Holdings Channel reports. The firm owned 14,283 shares of the company’s stock after buying an additional 3,667 shares during the period. Shell Asset Management Co.’s holdings in Xylem were worth $638,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Xylem by 2.3% in the first quarter. State Street Corp now owns 7,030,509 shares of the company’s stock worth $287,548,000 after buying an additional 159,732 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Xylem by 8.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,296,799 shares of the company’s stock worth $216,639,000 after buying an additional 417,259 shares during the period. Pictet Asset Management Ltd. increased its position in Xylem by 5.0% in the first quarter. Pictet Asset Management Ltd. now owns 4,440,366 shares of the company’s stock worth $166,115,000 after buying an additional 210,541 shares during the period. BlackRock Group LTD increased its position in Xylem by 1.2% in the first quarter. BlackRock Group LTD now owns 1,799,568 shares of the company’s stock worth $73,602,000 after buying an additional 20,700 shares during the period. Finally, Geode Capital Management LLC increased its position in Xylem by 1.1% in the first quarter. Geode Capital Management LLC now owns 1,484,650 shares of the company’s stock worth $60,604,000 after buying an additional 15,589 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.
Xylem Inc. (NYSE:XYL) traded down 2.06% on Friday, reaching $50.76. The company’s stock had a trading volume of 1,442,606 shares. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 27.10 and a beta of 1.15. Xylem Inc. has a 12 month low of $31.67 and a 12 month high of $53.25. The firm has a 50 day moving average of $51.03 and a 200 day moving average of $46.14.
Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm earned $932 million during the quarter, compared to the consensus estimate of $927.69 million. Xylem had a return on equity of 16.41% and a net margin of 9.22%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Analysts anticipate that Xylem Inc. will post $2.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a dividend of $0.1549 per share. The ex-dividend date was Monday, August 29th. This represents a $0.62 annualized dividend and a yield of 1.22%. Xylem’s dividend payout ratio (DPR) is currently 33.16%.
A number of equities analysts have weighed in on XYL shares. Atlantic Securities raised Xylem from a “neutral” rating to an “overweight” rating and set a $54.00 price target for the company in a research report on Monday, August 22nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $52.00 price target (up previously from $46.00) on shares of Xylem in a research report on Monday, June 20th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Xylem in a report on Tuesday, August 16th. Royal Bank Of Canada increased their price objective on Xylem from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Finally, RBC Capital Markets set a $51.00 price objective on Xylem and gave the company a “buy” rating in a report on Tuesday, August 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Xylem presently has a consensus rating of “Hold” and a consensus price target of $45.00.
In related news, insider Colin R. Sabol sold 27,473 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $50.91, for a total transaction of $1,398,650.43. Following the completion of the sale, the insider now owns 65,530 shares in the company, valued at $3,336,132.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven R. Loranger sold 32,246 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $48.01, for a total value of $1,548,130.46. Following the sale, the director now owns 38,334 shares of the company’s stock, valued at approximately $1,840,415.34. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
Xylem Inc is engaged in the design, manufacturing, and application of engineered technologies for the water industry. The Company 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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