Xylem Inc. (XYL) Stake Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA raised its stake in Xylem Inc. (NYSE:XYL) by 44.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 543,408 shares of the industrial products company’s stock after buying an additional 166,142 shares during the period. BNP Paribas Arbitrage SA’s holdings in Xylem were worth $30,121,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position 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 in the last quarter. BlackRock Inc. increased its position 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 in the last quarter. Pictet Asset Management Ltd. increased its position in shares of 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 valued at $226,441,000 after buying an additional 318,756 shares in the last quarter. Janus Capital Management LLC increased its position 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 in the last quarter. Finally, Impax Asset Management LTD increased its position 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 in the last quarter. 87.16% of the stock is currently owned by institutional investors.
Shares of Xylem Inc. (NYSE:XYL) opened at 58.95 on Friday. The company has a 50-day moving average price of $57.39 and a 200 day moving average price of $52.24. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 38.06 and a beta of 1.18. Xylem Inc. has a 52 week low of $45.60 and a 52 week high of $60.71.
Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Xylem had a return on equity of 17.26% and a net margin of 6.58%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Analysts expect that Xylem Inc. will post $2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis 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%.
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XYL has been the topic of several recent analyst reports. CIBC reaffirmed a “buy” rating on shares of Xylem in a research report on Wednesday, May 10th. BMO Capital Markets lifted their price target 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 price objective on shares of Xylem in a report on Friday, July 28th. Royal Bank Of Canada lifted their price objective on Xylem from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $52.00 price objective on shares of Xylem in a report on Friday, May 26th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.00.
In related news, Director Steven R. Loranger sold 66,132 shares of the stock in a transaction that occurred 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 sale, the director now owns 65,030 shares of the company’s stock, valued at $3,577,300.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Napolitano sold 9,052 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total value of $544,568.32. Following the sale, the insider now directly owns 35,303 shares in the company, valued at approximately $2,123,828.48. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
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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