ING Groep NV cut its stake in Xylem Inc (NYSE:XYL) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,834 shares of the industrial products company’s stock after selling 1,585 shares during the quarter. ING Groep NV’s holdings in Xylem were worth $330,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of XYL. Invictus RG purchased a new stake in Xylem in the third quarter worth $104,000. Hanson & Doremus Investment Management purchased a new stake in Xylem in the fourth quarter worth $126,000. FNY Partners Fund LP increased its stake in Xylem by 2,700.0% in the third quarter. FNY Partners Fund LP now owns 2,800 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,700 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new stake in Xylem in the third quarter worth $205,000. Finally, UMB Bank N A MO purchased a new stake in Xylem in the fourth quarter worth $205,000. Institutional investors own 85.46% of the company’s stock.
In other Xylem news, insider Tomas Brannemo sold 1,151 shares of Xylem stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $76.41, for a total value of $87,947.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven R. Loranger sold 47,712 shares of Xylem stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $68.10, for a total value of $3,249,187.20. Following the completion of the transaction, the director now owns 68,843 shares in the company, valued at approximately $4,688,208.30. The disclosure for this sale can be found here. Insiders sold 88,216 shares of company stock worth $6,110,375 in the last quarter. 0.75% of the stock is owned by insiders.
Xylem (NYSE:XYL) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Xylem had a return on equity of 17.95% and a net margin of 7.03%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. research analysts forecast that Xylem Inc will post 2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Xylem’s previous quarterly dividend of $0.18. Xylem’s payout ratio is 40.38%.
A number of research firms have weighed in on XYL. Zacks Investment Research upgraded Xylem from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Saturday, February 10th. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Canaccord Genuity reiterated a “hold” rating and issued a $65.00 target price on shares of Xylem in a research note on Monday, December 11th. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 target price on shares of Xylem in a research note on Thursday, January 4th. Finally, BMO Capital Markets restated a “buy” rating and set a $83.00 price target on shares of Xylem in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Xylem has a consensus rating of “Buy” and an average target price of $72.42.
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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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