Principal Financial Group Inc. reduced its position in shares of Xylem Inc. (NYSE:XYL) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 429,589 shares of the industrial products company’s stock after selling 1,550 shares during the period. Principal Financial Group Inc. owned about 0.24% of Xylem worth $21,574,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XYL. Norges Bank bought a new position in Xylem during the fourth quarter worth $192,855,000. Pictet Asset Management Ltd. boosted 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 worth $202,095,000 after buying an additional 1,027,438 shares during the last quarter. Allianz Asset Management AG boosted its position in Xylem by 45.2% in the fourth quarter. Allianz Asset Management AG now owns 2,618,062 shares of the industrial products company’s stock worth $129,646,000 after buying an additional 814,684 shares during the last quarter. Renaissance Technologies LLC bought a new position in Xylem during the fourth quarter worth $39,611,000. Finally, Victory Capital Management Inc. boosted its position in Xylem by 48.0% in the first quarter. Victory Capital Management Inc. now owns 2,102,511 shares of the industrial products company’s stock worth $105,589,000 after buying an additional 682,050 shares during the last quarter. Hedge funds and other institutional investors own 85.57% of the company’s stock.
Shares of Xylem Inc. (NYSE XYL) traded up 0.17% during trading on Friday, hitting $54.05. 1,607,084 shares of the stock were exchanged. Xylem Inc. has a 52-week low of $42.52 and a 52-week high of $54.99. The firm has a 50 day moving average of $52.28 and a 200-day moving average of $50.23. The stock has a market cap of $9.71 billion, a PE ratio of 38.88 and a beta of 1.15.
Xylem (NYSE:XYL) last announced its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Xylem had a net margin of 6.75% and a return on equity of 15.53%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. Xylem’s quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts anticipate that Xylem Inc. will post $2.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Thursday, May 25th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, May 23rd. Xylem’s dividend payout ratio is presently 50.35%.
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A number of research analysts have weighed in on XYL shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $57.00 target price on shares of Xylem in a research note on Sunday, March 12th. Cowen and Company boosted their target price on shares of Xylem from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, March 24th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Xylem in a research report on Wednesday, March 8th. They issued a “neutral” rating and a $52.00 price target on the stock. CIBC reissued a “buy” rating and issued a $58.00 price target on shares of Xylem in a research report on Thursday, April 6th. Finally, Oppenheimer Holdings, Inc. set a $58.00 price target on shares of Xylem and gave the company a “buy” rating in a research report on Wednesday, April 5th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.18.
In related news, insider Tomas Brannemo sold 14,080 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $50.36, for a total value of $709,068.80. Following the sale, the insider now owns 21,000 shares in the company, valued at $1,057,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.
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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