Kornitzer Capital Management Inc. KS Sells 41,797 Shares of Xylem Inc. $XYL

Kornitzer Capital Management Inc. KS trimmed its position in Xylem Inc. (NYSE:XYL) by 53.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,703 shares of the industrial products company’s stock after selling 41,797 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Xylem were worth $4,619,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in XYL. Price T Rowe Associates Inc. MD increased its stake in Xylem by 689.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,708,963 shares of the industrial products company’s stock valued at $443,074,000 after acquiring an additional 3,239,203 shares during the last quarter. Nuveen LLC bought a new position in Xylem in the first quarter valued at approximately $99,726,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Xylem by 390.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,021,337 shares of the industrial products company’s stock valued at $122,009,000 after acquiring an additional 813,100 shares during the last quarter. Swedbank AB increased its stake in Xylem by 13.9% in the second quarter. Swedbank AB now owns 4,366,932 shares of the industrial products company’s stock valued at $564,906,000 after acquiring an additional 531,890 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Xylem by 46.8% during the first quarter. JPMorgan Chase & Co. now owns 1,363,453 shares of the industrial products company’s stock worth $162,878,000 after buying an additional 434,614 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

XYL has been the topic of a number of research reports. Citigroup boosted their target price on shares of Xylem from $168.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. TD Cowen boosted their target price on shares of Xylem from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Xylem in a research note on Friday. UBS Group boosted their target price on shares of Xylem from $164.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Cowen reiterated a “hold” rating on shares of Xylem in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $154.67.

Xylem Price Performance

XYL stock opened at $148.31 on Friday. The firm has a market cap of $36.10 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 2.53 and a beta of 1.13. The company has a quick ratio of 1.43, a current ratio of 1.90 and a debt-to-equity ratio of 0.17. Xylem Inc. has a 12-month low of $100.47 and a 12-month high of $151.16. The company’s fifty day simple moving average is $143.79 and its 200 day simple moving average is $132.76.

Xylem (NYSE:XYL) last released its earnings results on Thursday, July 31st. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.20 billion. Xylem had a net margin of 10.74% and a return on equity of 10.33%. Xylem’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. Xylem has set its FY 2025 guidance at 4.700-4.850 EPS. On average, analysts expect that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, August 28th were issued a $0.40 dividend. The ex-dividend date was Thursday, August 28th. This represents a $1.60 annualized dividend and a yield of 1.1%. Xylem’s payout ratio is presently 41.56%.

Insider Transactions at Xylem

In related news, CAO Geri-Michelle Mcshane sold 1,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $139.96, for a total value of $139,960.00. Following the transaction, the chief accounting officer owned 2,957 shares in the company, valued at $413,861.72. The trade was a 25.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

About Xylem

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.