Oppenheimer Asset Management Inc. bought a new stake in Xylem Inc. (NYSE:XYL – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 83,563 shares of the industrial products company’s stock, valued at approximately $9,878,000.
Other hedge funds have also recently bought and sold shares of the company. Callahan Advisors LLC acquired a new position in shares of Xylem in the fourth quarter valued at approximately $1,721,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Xylem by 2,309.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 431,824 shares of the industrial products company’s stock worth $54,314,000 after buying an additional 413,904 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in Xylem in the 4th quarter valued at approximately $1,663,000. Norges Bank purchased a new position in Xylem in the 4th quarter valued at approximately $361,012,000. Finally, Franklin Resources Inc. grew its stake in shares of Xylem by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,787,994 shares of the industrial products company’s stock worth $243,489,000 after acquiring an additional 10,314 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.
Xylem Price Performance
Shares of NYSE:XYL opened at $119.75 on Friday. Xylem Inc. has a 12 month low of $105.29 and a 12 month high of $154.27. The firm has a market capitalization of $27.96 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.61 and a quick ratio of 1.24. The company’s fifty day moving average price is $117.47 and its 200 day moving average price is $120.65.
Xylem Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 27th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, August 27th. Xylem’s dividend payout ratio (DPR) is currently 40.95%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Mizuho upped their price objective on Xylem from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Barclays lifted their target price on Xylem from $154.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Robert W. Baird boosted their target price on Xylem from $163.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price target on Xylem from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, CLSA raised Xylem to a “hold” rating in a research report on Thursday, June 25th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Xylem has a consensus rating of “Moderate Buy” and an average price target of $154.23.
View Our Latest Research Report on Xylem
About Xylem
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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