Private Asset Management Inc. Sells 68,213 Shares of Xylem Inc. (XYL)
Private Asset Management Inc. trimmed its holdings in shares of Xylem Inc. (NYSE:XYL) by 94.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,213 shares of the industrial products company’s stock after selling 68,213 shares during the quarter. Private Asset Management Inc.’s holdings in Xylem were worth $4,213,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Harfst & Associates Inc. increased its position in Xylem by 26.1% during the second quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 503 shares during the period. CENTRAL TRUST Co increased its position in Xylem by 160.3% during the second quarter. CENTRAL TRUST Co now owns 2,655 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 1,635 shares during the period. FNY Partners Fund LP bought a new position in Xylem during the first quarter worth about $151,000. Tower Research Capital LLC TRC bought a new position in Xylem during the second quarter worth about $168,000. Finally, Federated Investors Inc. PA increased its position in Xylem by 5.8% during the second quarter. Federated Investors Inc. PA now owns 3,286 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 181 shares during the period. 86.08% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total transaction of $544,568.32. Following the sale, the insider now directly owns 35,303 shares in the company, valued at $2,123,828.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.75% of the company’s stock.
Shares of Xylem Inc. (XYL) traded down 0.03% during midday trading on Wednesday, reaching $63.21. 319,856 shares of the company’s stock were exchanged. Xylem Inc. has a 12 month low of $45.60 and a 12 month high of $65.42. The firm has a 50 day moving average price of $63.30 and a 200 day moving average price of $56.45. The company has a market cap of $11.35 billion, a P/E ratio of 40.81 and a beta of 1.17.
Xylem (NYSE:XYL) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share for the quarter, beating 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 prior year, the business posted $0.48 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. Equities research analysts forecast that Xylem Inc. will post $2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Thursday, November 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, November 1st. Xylem’s dividend payout ratio is presently 46.45%.
XYL has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $66.00 price target (up from $60.00) on shares of Xylem in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Xylem from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, July 4th. BidaskClub raised shares of Xylem from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Cowen and Company reaffirmed a “buy” rating and set a $70.00 price target on shares of Xylem in a research report on Thursday, September 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $52.00 price target on shares of Xylem in a research report on Thursday, July 6th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Xylem presently has a consensus rating of “Buy” and an average target price of $61.92.
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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