ING Groep NV bought a new stake in Xylem Inc. (NYSE:XYL) during the second quarter, Holdings Channel reports. The institutional investor bought 6,311 shares of the company’s stock, valued at approximately $282,000.
A number of other large investors have also made changes to their positions in the company. Virginia Retirement System purchased a new stake in shares of Xylem during the first quarter worth approximately $360,000. Pacad Investment Ltd. purchased a new stake in shares of Xylem during the first quarter worth approximately $249,000. Ngam Advisors L.P. increased its stake in shares of Xylem by 3.7% in the first quarter. Ngam Advisors L.P. now owns 17,552 shares of the company’s stock worth $718,000 after buying an additional 629 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Xylem by 9.1% in the first quarter. Teachers Advisors Inc. now owns 233,021 shares of the company’s stock worth $9,531,000 after buying an additional 19,345 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Xylem by 0.5% in the first quarter. Prudential Financial Inc. now owns 221,105 shares of the company’s stock worth $9,043,000 after buying an additional 1,200 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.
Xylem Inc. (NYSE:XYL) traded down 0.90% during mid-day trading on Thursday, hitting $49.66. 1,289,840 shares of the stock traded hands. The stock has a 50-day moving average of $50.96 and a 200 day moving average of $46.37. Xylem Inc. has a 1-year low of $31.67 and a 1-year high of $53.25. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 26.51 and a beta of 1.15.
Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The business earned $932 million during the quarter, compared to analyst estimates of $927.69 million. Xylem had a net margin of 9.22% and a return on equity of 16.41%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts expect that Xylem Inc. will post $2.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were paid a $0.1549 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.25%. Xylem’s dividend payout ratio (DPR) is presently 33.16%.
XYL has been the topic of a number of recent analyst reports. Atlantic Securities raised shares of Xylem from a “neutral” rating to an “overweight” rating and set a $54.00 price objective on the stock in a research report on Monday, August 22nd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $52.00 target price (up previously from $46.00) on shares of Xylem in a report on Monday, June 20th. Canaccord Genuity restated a “hold” rating and issued a $50.00 target price (up previously from $45.00) on shares of Xylem in a report on Tuesday, August 16th. RBC Capital Markets set a $51.00 target price on shares of Xylem and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Royal Bank Of Canada upped their target price on shares of Xylem from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.00.
In related news, insider Tomas Brannemo sold 8,524 shares of Xylem stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $50.06, for a total value of $426,711.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colin R. Sabol sold 27,473 shares of Xylem stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $50.91, for a total transaction of $1,398,650.43. Following the completion of the sale, the insider now owns 65,530 shares of the company’s stock, valued at approximately $3,336,132.30. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.
Xylem Company Profile
Xylem Inc is engaged in the design, manufacturing, and application of engineered technologies for the water industry. The Company 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.