Cigna Investments Inc. New Lowers Position in Xylem Inc. (XYL)
Cigna Investments Inc. New reduced its stake in shares of Xylem Inc. (NYSE:XYL) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 6,893 shares of the industrial products company’s stock after selling 300 shares during the period. Cigna Investments Inc. New’s holdings in Xylem were worth $382,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. 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 last quarter. 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 last quarter. Pictet Asset Management Ltd. raised its stake 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 during the last quarter. 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 last quarter. 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 last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.
Xylem Inc. (NYSE:XYL) opened at 59.03 on Friday. Xylem Inc. has a 52 week low of $45.60 and a 52 week high of $60.71. The firm has a 50-day moving average price of $57.50 and a 200-day moving average price of $52.31. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 38.11 and a beta of 1.18.
Xylem (NYSE:XYL) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 in the previous year, the firm posted $0.48 earnings per share. The business’s revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that Xylem Inc. will post $2.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. Xylem’s dividend payout ratio (DPR) is 46.45%.
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Several analysts have issued reports on XYL shares. CIBC restated a “buy” rating on shares of Xylem in a research note on Wednesday, May 10th. BMO Capital Markets boosted their target price on Xylem from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Canaccord Genuity restated a “hold” rating and issued a $50.00 target price on shares of Xylem in a research note on Friday, July 28th. Royal Bank Of Canada boosted their target price on 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 restated a “hold” rating and issued a $52.00 target price on shares of Xylem in a research note on Friday, May 26th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Xylem presently has an average rating of “Buy” and an average price target of $59.00.
In other news, Director Steven R. Loranger sold 66,132 shares of Xylem stock in a transaction dated 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 of the company’s stock, valued at $3,577,300.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth Napolitano sold 9,052 shares of Xylem stock in a transaction dated Wednesday, August 9th. The stock was 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 directly owns 35,303 shares in the company, valued at $2,123,828.48. The disclosure for this sale can be found here. 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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