Cowen and Company reaffirmed their outperform rating on shares of Xylem Inc. (NYSE:XYL) in a research note issued to investors on Wednesday morning. Cowen and Company currently has a $70.00 price objective on the industrial products company’s stock, up from their prior price objective of $60.00.
XYL has been the subject of several other reports. BMO Capital Markets started coverage on Xylem in a research note on Wednesday, June 21st. They issued an outperform rating and a $60.00 price objective for the company. Canaccord Genuity restated a hold rating and issued a $50.00 price objective on shares of Xylem in a research note on Friday, July 28th. BidaskClub upgraded Xylem from a hold rating to a buy rating in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. set a $58.00 price objective on Xylem and gave the stock a buy rating in a research note on Tuesday, June 20th. Finally, Barclays PLC upgraded 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 research note on Monday, May 15th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $59.00.
Xylem (NYSE:XYL) traded down 1.22% during mid-day trading on Wednesday, reaching $58.98. The company’s stock had a trading volume of 598,279 shares. Xylem has a 12-month low of $45.60 and a 12-month high of $60.71. The firm has a market cap of $10.59 billion, a PE ratio of 38.08 and a beta of 1.18. The company has a 50-day moving average price of $56.50 and a 200-day moving average price of $51.83.
Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Xylem had a return on equity of 16.02% and a net margin of 7.08%. Xylem’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. On average, equities research analysts expect that Xylem will post $2.37 earnings per share for the current year.
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In related news, Director Steven R. Loranger sold 66,132 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $55.01, for a total value of $3,637,921.32. Following the completion of the transaction, the director now owns 65,030 shares of the company’s stock, valued at approximately $3,577,300.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total transaction of $544,568.32. Following the completion of the transaction, the insider now directly owns 35,303 shares of the company’s stock, valued at approximately $2,123,828.48. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased 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 in the last quarter. USS Investment Management Ltd purchased a new position in shares of Xylem during the second quarter valued at $91,840,000. MARSHALL WACE ASIA Ltd bought a new position in Xylem during the first quarter valued at approximately $54,623,000. Marshall Wace North America L.P. bought a new position in Xylem during the first quarter valued at approximately $54,623,000. Finally, Pictet Asset Management Ltd. increased its position in 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. 86.41% of the stock is owned by institutional investors.
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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