Biltmore Wealth Management LLC Purchases New Stake in Xylem Inc. (NYSE:XYL)

Biltmore Wealth Management LLC purchased a new position in shares of Xylem Inc. (NYSE:XYL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,068 shares of the industrial products company's stock, valued at approximately $605,000.

A number of other large investors also recently modified their holdings of the business. Perkins Coie Trust Co acquired a new position in shares of Xylem in the first quarter valued at $27,000. Lee Danner & Bass Inc. acquired a new position in shares of Xylem in the fourth quarter valued at $30,000. Rialto Wealth Management LLC acquired a new position in shares of Xylem in the fourth quarter valued at $31,000. Heck Capital Advisors LLC acquired a new position in shares of Xylem in the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of Xylem by 69.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 317 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 130 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on XYL. Robert W. Baird cut their target price on Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus upped their price target on Xylem from $140.00 to $141.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Royal Bank of Canada upped their price target on Xylem from $143.00 to $147.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Citigroup lowered their price target on Xylem from $152.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. began coverage on Xylem in a research report on Friday, May 30th. They issued an "overweight" rating and a $148.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $143.71.

Xylem Price Performance

Shares of XYL stock traded down $1.95 during trading hours on Friday, hitting $125.35. 851,585 shares of the company's stock were exchanged, compared to its average volume of 1,403,005. The stock's 50-day moving average is $120.52 and its 200-day moving average is $121.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.33. The stock has a market cap of $30.50 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. Xylem Inc. has a 52 week low of $100.47 and a 52 week high of $143.50.

Xylem (NYSE:XYL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.04 billion. Xylem had a return on equity of 9.96% and a net margin of 10.40%. The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, research analysts forecast that Xylem Inc. will post 4.65 EPS for the current year.

Xylem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, May 29th. Xylem's payout ratio is presently 43.01%.

Xylem Company Profile

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.