Marshall Wace North America L.P. Raises Stake in Xylem Inc. (XYL)
Marshall Wace North America L.P. increased its stake in Xylem Inc. (NYSE:XYL) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,257,368 shares of the industrial products company’s stock after buying an additional 164,915 shares during the period. Marshall Wace North America L.P. owned approximately 0.70% of Xylem worth $69,156,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of XYL. BlackRock Inc. raised 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 during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of Xylem during the first quarter valued at approximately $54,623,000. Pictet Asset Management Ltd. raised its position 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. Victory Capital Management Inc. raised its position in shares of Xylem by 48.0% in the first quarter. Victory Capital Management Inc. now owns 2,102,511 shares of the industrial products company’s stock valued at $105,589,000 after buying an additional 682,050 shares during the period. Finally, Vanguard Group Inc. raised 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 during the period. Institutional investors and hedge funds own 87.16% of the company’s stock.
Shares of Xylem Inc. (NYSE:XYL) traded up 0.14% during mid-day trading on Friday, reaching $59.03. 630,930 shares of the company traded hands. Xylem Inc. has a 52 week low of $45.60 and a 52 week high of $60.71. The stock has a market capitalization of $10.60 billion, a PE ratio of 38.11 and a beta of 1.18. The firm has a 50 day moving average of $57.50 and a 200-day moving average of $52.31.
Xylem (NYSE:XYL) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Thursday, August 31st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. Xylem’s dividend payout ratio is presently 46.45%.
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XYL has been the subject of several research reports. Barclays PLC upgraded shares of Xylem from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $51.00 to $59.00 in a report on Monday, May 15th. BidaskClub upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. BMO Capital Markets initiated coverage on shares of Xylem in a report on Wednesday, June 21st. They issued an “outperform” rating and a $60.00 price objective for the company. CIBC restated a “buy” rating on shares of Xylem in a report on Wednesday, May 10th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $52.00 price objective on shares of Xylem in a report on Thursday, July 6th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.00.
In other news, Director Steven R. Loranger sold 66,132 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $55.01, for a total transaction of $3,637,921.32. Following the transaction, the director now owns 65,030 shares in the company, valued at $3,577,300.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total transaction of $544,568.32. Following the transaction, the insider now owns 35,303 shares in the company, valued at approximately $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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