Prudential PLC cut its holdings in shares of Xylem Inc. (NYSE:XYL – Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,680 shares of the industrial products company’s stock after selling 6,497 shares during the quarter. Prudential PLC’s holdings in Xylem were worth $15,209,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Knuff & Co LLC acquired a new position in shares of Xylem during the third quarter worth approximately $27,000. Wexford Capital LP acquired a new position in shares of Xylem during the third quarter worth approximately $27,000. Ramirez Asset Management Inc. lifted its holdings in shares of Xylem by 100.0% during the third quarter. Ramirez Asset Management Inc. now owns 200 shares of the industrial products company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Xylem during the fourth quarter worth approximately $27,000. Finally, Entrust Financial LLC acquired a new position in shares of Xylem during the fourth quarter worth approximately $45,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.
Xylem Price Performance
Shares of XYL stock opened at $109.84 on Friday. The stock’s fifty day moving average is $116.75 and its 200-day moving average is $128.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.10 and a current ratio of 1.46. The stock has a market capitalization of $26.11 billion, a PE ratio of 27.32, a PEG ratio of 1.57 and a beta of 1.04. Xylem Inc. has a 52 week low of $105.29 and a 52 week high of $154.27.
Xylem Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, May 28th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, May 28th. Xylem’s dividend payout ratio is 42.79%.
Xylem declared that its board has initiated a share buyback program on Wednesday, February 25th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
XYL has been the subject of a number of recent research reports. Oppenheimer cut their target price on Xylem from $160.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. TD Cowen restated a “hold” rating on shares of Xylem in a research note on Monday, February 23rd. Jefferies Financial Group restated a “hold” rating and issued a $130.00 target price (down from $140.00) on shares of Xylem in a research note on Tuesday, March 31st. Robert W. Baird set a $161.00 target price on Xylem in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on Xylem from $170.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Xylem presently has an average rating of “Moderate Buy” and a consensus price target of $152.77.
Read Our Latest Analysis on XYL
Insider Buying and Selling at Xylem
In other Xylem news, CAO Geri-Michelle Mcshane sold 4,269 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.46, for a total value of $501,436.74. Following the transaction, the chief accounting officer owned 3,605 shares of the company’s stock, valued at approximately $423,443.30. This represents a 54.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerome A. Peribere purchased 1,210 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $116.61 per share, for a total transaction of $141,098.10. Following the transaction, the director owned 27,209 shares of the company’s stock, valued at $3,172,841.49. This trade represents a 4.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.32% of the company’s stock.
Xylem Profile
Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.
The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.
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