Algebris UK Ltd Decreases Stake in Xylem Inc. (NYSE:XYL)

Key Points

• Algebris UK Ltd reduced its position in Xylem Inc. by 69.7% during the first quarter, holding $360,000 worth of the company's stock after selling 7,493 shares.
• Xylem has garnered attention from analysts with target price increases; Stifel Nicolaus raised its price target to $162.00 and Royal Bank of Canada to $147.00, indicating strong investor sentiment.
• The company reported quarterly earnings of $1.03 per share, beating expectations, with a revenue of $2.07 billion, reflecting a 1.8% year-over-year increase.

Algebris UK Ltd lowered its position in shares of Xylem Inc. (NYSE:XYL - Free Report) by 69.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,257 shares of the industrial products company's stock after selling 7,493 shares during the quarter. Algebris UK Ltd's holdings in Xylem were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. increased its position in shares of Xylem by 84.9% in the first quarter. Valley National Advisers Inc. now owns 220 shares of the industrial products company's stock worth $26,000 after purchasing an additional 101 shares during the period. Perkins Coie Trust Co bought a new position in Xylem in the first quarter valued at about $27,000. Center for Financial Planning Inc. grew its position in Xylem by 52.0% in the first quarter. Center for Financial Planning Inc. now owns 266 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Xylem in the fourth quarter valued at about $36,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Xylem in the first quarter valued at about $41,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Xylem Trading Down 0.9%

Shares of NYSE XYL traded down $1.24 during midday trading on Wednesday, hitting $130.72. The company's stock had a trading volume of 1,734,736 shares, compared to its average volume of 1,491,150. Xylem Inc. has a 12-month low of $100.47 and a 12-month high of $138.50. The firm has a market cap of $31.81 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The business's 50 day moving average is $128.59 and its two-hundred day moving average is $123.86. The company has a current ratio of 1.89, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Xylem (NYSE:XYL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. Xylem had a return on equity of 10.12% and a net margin of 10.54%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the business earned $0.90 EPS. Xylem's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts expect that Xylem Inc. will post 4.65 EPS for the current year.

Xylem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, May 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 29th. Xylem's dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Xylem from $149.00 to $146.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Raymond James Financial upgraded Xylem to a "hold" rating in a report on Thursday, May 15th. Stifel Nicolaus boosted their price target on Xylem from $141.00 to $162.00 and gave the stock a "buy" rating in a report on Monday, July 21st. JPMorgan Chase & Co. initiated coverage on Xylem in a research note on Friday, May 30th. They issued an "overweight" rating and a $148.00 price objective on the stock. Finally, Citigroup reaffirmed a "buy" rating and issued a $152.00 price objective (up from $137.00) on shares of Xylem in a research note on Monday, July 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Xylem currently has an average rating of "Moderate Buy" and a consensus target price of $149.29.

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.