Biltmore Wealth Management LLC Takes Position in Xylem Inc. (NYSE:XYL)

Biltmore Wealth Management LLC purchased a new position in Xylem Inc. (NYSE:XYL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,068 shares of the industrial products company's stock, valued at approximately $605,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in shares of Xylem in the fourth quarter worth $260,000. Empowered Funds LLC lifted its stake in Xylem by 14.0% in the 4th quarter. Empowered Funds LLC now owns 5,558 shares of the industrial products company's stock worth $645,000 after acquiring an additional 683 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Xylem by 3.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,777 shares of the industrial products company's stock worth $1,481,000 after acquiring an additional 444 shares during the period. Asset Management One Co. Ltd. grew its stake in Xylem by 5.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 155,081 shares of the industrial products company's stock valued at $18,227,000 after acquiring an additional 7,517 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Xylem by 7.7% during the 4th quarter. V Square Quantitative Management LLC now owns 7,082 shares of the industrial products company's stock valued at $822,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Xylem Stock Down 0.2%

XYL stock traded down $0.30 during trading hours on Wednesday, hitting $125.07. The company's stock had a trading volume of 930,780 shares, compared to its average volume of 1,398,164. The stock has a 50 day moving average price of $121.31 and a two-hundred day moving average price of $121.73. Xylem Inc. has a 12 month low of $100.47 and a 12 month high of $143.50. The company has a market capitalization of $30.44 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The company has a quick ratio of 1.41, a current ratio of 1.89 and a debt-to-equity ratio of 0.18.

Xylem (NYSE:XYL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.04 billion. Xylem had a net margin of 10.54% and a return on equity of 10.12%. Xylem's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities research analysts expect that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on XYL shares. Raymond James Financial raised shares of Xylem to a "hold" rating in a research report on Thursday, May 15th. Robert W. Baird dropped their price objective on shares of Xylem from $149.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. started coverage on shares of Xylem in a research note on Friday, May 30th. They set an "overweight" rating and a $148.00 target price for the company. Royal Bank Of Canada upped their price target on shares of Xylem from $143.00 to $147.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Citigroup cut their price objective on Xylem from $152.00 to $134.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Xylem presently has an average rating of "Moderate Buy" and a consensus price target of $143.71.

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.