Xylem Inc. $XYL Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Xylem Inc. (NYSE:XYL) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,267,986 shares of the industrial products company’s stock after selling 771,785 shares during the period. Pictet Asset Management Holding SA owned 1.42% of Xylem worth $330,947,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Xylem by 2.4% during the 2nd quarter. State Street Corp now owns 11,444,669 shares of the industrial products company’s stock valued at $1,352,874,000 after acquiring an additional 270,972 shares during the last quarter. Perpetual Ltd grew its holdings in shares of Xylem by 10.2% during the third quarter. Perpetual Ltd now owns 129,946 shares of the industrial products company’s stock worth $13,160,000 after purchasing an additional 11,993 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Xylem by 1,922.6% in the second quarter. TD Waterhouse Canada Inc. now owns 46,034 shares of the industrial products company’s stock worth $5,400,000 after purchasing an additional 43,758 shares during the last quarter. XXEC Inc. bought a new position in shares of Xylem in the second quarter worth approximately $850,841,000. Finally, NFJ Investment Group LLC bought a new position in shares of Xylem in the second quarter worth approximately $4,116,000. 87.96% of the stock is owned by institutional investors.

Insider Activity at Xylem

In other Xylem news, Director D Koch bought 11,000 shares of Xylem stock in a transaction that occurred on Thursday, October 29th. The shares were bought at an average price of $89.60 per share, with a total value of $985,600.00. Following the acquisition, the director owned 12,247 shares in the company, valued at approximately $1,097,331.20. This trade represents a 882.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Xylem from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, October 28th. Zacks Research lowered shares of Xylem from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. Barclays cut shares of Xylem from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $139.00 to $104.00 in a research report on Wednesday, October 28th. Wolfe Research started coverage on shares of Xylem in a research report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada cut their target price on shares of Xylem from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xylem currently has an average rating of “Hold” and an average price target of $121.31.

Xylem Stock Performance

NYSE:XYL opened at $97.88 on Friday. The business has a 50 day moving average of $103.56 and a 200 day moving average of $116.48. The company has a market capitalization of $22.45 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.63 and a beta of 1.01. Xylem Inc. has a 1-year low of $87.40 and a 1-year high of $152.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 1.02.

Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.01). The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. Xylem had a net margin of 11.94% and a return on equity of 12.06%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. On average, sell-side analysts predict that Xylem Inc. will post 5.45 earnings per share for the current fiscal year.

Xylem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, August 27th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.8%. Xylem’s dividend payout ratio is 38.05%.

About Xylem

Xylem Inc is a water technology company that develops equipment, software and services for managing water and wastewater. Its offerings include pumps and treatment systems, water-quality testing and analysis, smart meters, monitoring and control technologies, and services for detecting leaks and maintaining water infrastructure.

The company serves water and wastewater utilities, industrial and commercial customers, and residential markets. Its technologies support the movement, treatment, testing and efficient use of water across municipal and industrial systems.

Xylem was established in 2011 when it became an independent company following its spin-off from ITT Corporation.