Zacks Investment Research cut shares of Xylem (NYSE:XYL) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Year to date, Xylem's shares have outperformed the industry. The company believes robust semiconductor and industrial end-markets' demand will continue to drive its revenues in the quarters ahead, while greater operational efficacy will boost bottom-line results. Integration process of the Analytics and Sensus businesses is right on track and is expected to drive its Measurement and Control Solutions segment's performance in the upcoming quarters. Xylem also intends to fund strategic investment projects and boost shareholders' return on the back of increased cost savings. However, Xylem's stock looks overvalued compared to the industry. Moreover, we expect that headwinds such as a stronger U.S. dollar, supply chain challenges or unfavorable climatic conditions might weigh over the company's near-term results.”
XYL has been the topic of several other research reports. Seaport Global Securities reissued a buy rating on shares of Xylem in a research note on Wednesday, November 1st. Canaccord Genuity reissued a hold rating and issued a $65.00 price objective on shares of Xylem in a research note on Wednesday, November 1st. Oppenheimer increased their price objective on Xylem from $66.00 to $75.00 and gave the stock an outperform rating in a research note on Wednesday, November 1st. BMO Capital Markets increased their price objective on Xylem from $74.00 to $76.00 and gave the stock an outperform rating in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reissued a hold rating and issued a $63.00 price objective on shares of Xylem in a research note on Friday, October 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Xylem presently has an average rating of Buy and a consensus price target of $65.17.
Xylem (NYSE XYL) traded up $0.68 on Wednesday, hitting $68.66. The stock had a trading volume of 175,968 shares, compared to its average volume of 1,206,099. The company has a market capitalization of $12,184.06, a PE ratio of 29.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. Xylem has a 1 year low of $46.67 and a 1 year high of $69.88. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.26 and a current ratio of 1.76.
Xylem (NYSE:XYL) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Xylem had a return on equity of 17.74% and a net margin of 6.85%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. sell-side analysts expect that Xylem will post 2.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Thursday, November 2nd were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, November 1st. This represents a $0.72 annualized dividend and a yield of 1.05%. Xylem’s dividend payout ratio (DPR) is presently 41.86%.
In other Xylem news, Director Steven R. Loranger sold 37,700 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $66.25, for a total transaction of $2,497,625.00. Following the sale, the director now owns 58,831 shares of the company’s stock, valued at approximately $3,897,553.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Colin R. Sabol sold 38,070 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $65.81, for a total value of $2,505,386.70. Following the sale, the insider now directly owns 61,979 shares in the company, valued at approximately $4,078,837.99. The disclosure for this sale can be found here. Insiders have sold a total of 83,270 shares of company stock worth $5,501,312 in the last ninety days. Insiders own 0.75% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Xylem by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,352 shares of the industrial products company’s stock valued at $740,000 after purchasing an additional 39 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Xylem by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 17,671 shares of the industrial products company’s stock valued at $980,000 after purchasing an additional 58 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Xylem by 0.5% during the 2nd quarter. Manchester Capital Management LLC now owns 14,198 shares of the industrial products company’s stock valued at $787,000 after purchasing an additional 76 shares during the last quarter. Commerce Bank lifted its holdings in shares of Xylem by 0.9% during the 2nd quarter. Commerce Bank now owns 10,672 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 90 shares during the last quarter. Finally, Bluestein R H & Co. lifted its holdings in shares of Xylem by 1.0% during the 2nd quarter. Bluestein R H & Co. now owns 10,100 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.
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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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