DAVENPORT & Co LLC bought a new position in shares of Xylem Inc. (NYSE:XYL) during the second quarter, Holdings Channel reports. The fund bought 161,310 shares of the industrial products company’s stock, valued at approximately $8,941,000.
Other institutional investors have also recently made changes to their positions in the company. Asset Planning Services Ltd. boosted its position in shares of Xylem by 0.3% in the first quarter. Asset Planning Services Ltd. now owns 2,107 shares of the industrial products company’s stock worth $106,000 after buying an additional 7 shares during the period. Contravisory Investment Management Inc. boosted its position in shares of Xylem by 96.1% in the first quarter. Contravisory Investment Management Inc. now owns 2,345 shares of the industrial products company’s stock worth $118,000 after buying an additional 1,149 shares during the period. Cribstone Capital Management LLC boosted its position in shares of Xylem by 1,214.6% in the first quarter. Cribstone Capital Management LLC now owns 2,432 shares of the industrial products company’s stock worth $124,000 after buying an additional 2,247 shares during the period. FNY Partners Fund LP purchased a new position in shares of Xylem during the first quarter worth approximately $151,000. Finally, Pacer Advisors Inc. boosted its position in shares of Xylem by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,701 shares of the industrial products company’s stock worth $186,000 after buying an additional 121 shares during the period. Institutional investors own 85.79% of the company’s stock.
Shares of Xylem Inc. (XYL) traded down 0.62% during midday trading on Monday, hitting $54.61. The stock had a trading volume of 2,410,555 shares. The stock has a 50 day moving average of $53.05 and a 200-day moving average of $50.40. The company has a market cap of $9.81 billion, a P/E ratio of 39.29 and a beta of 1.18. Xylem Inc. has a one year low of $45.60 and a one year high of $55.88.
Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Xylem had a return on equity of 15.53% and a net margin of 6.75%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. Xylem’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts forecast that Xylem Inc. will post $2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Thursday, May 25th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, May 23rd. Xylem’s dividend payout ratio is presently 50.35%.
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XYL has been the subject of a number of research analyst reports. Oppenheimer Holdings, Inc. set a $58.00 target price on Xylem and gave the company a “buy” rating in a report on Tuesday, June 20th. Royal Bank of Canada restated a “buy” rating and set a $57.00 target price on shares of Xylem in a report on Sunday, March 12th. CIBC restated a “buy” rating on shares of Xylem in a report on Wednesday, May 10th. Boenning Scattergood reiterated a “buy” rating and issued a $55.00 price objective on shares of Xylem in a research note on Wednesday, June 7th. Finally, BidaskClub upgraded Xylem from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.08.
In other Xylem news, insider Tomas Brannemo sold 14,080 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $50.36, for a total transaction of $709,068.80. Following the transaction, the insider now owns 21,000 shares of the company’s stock, valued at approximately $1,057,560. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven R. Loranger sold 66,132 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $55.01, for a total value of $3,637,921.32. Following the transaction, the director now directly owns 65,030 shares in the company, valued at approximately $3,577,300.30. The disclosure for this sale can be found here. Company 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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