Allspring Global Investments Holdings LLC Grows Stake in Xylem Inc. (NYSE:XYL)

Allspring Global Investments Holdings LLC increased its stake in Xylem Inc. (NYSE:XYL - Free Report) by 468.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,665 shares of the industrial products company's stock after acquiring an additional 59,888 shares during the period. Allspring Global Investments Holdings LLC's holdings in Xylem were worth $8,711,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Dynamic Advisor Solutions LLC acquired a new stake in Xylem in the first quarter valued at $694,000. Smartleaf Asset Management LLC boosted its position in shares of Xylem by 31.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 575 shares of the industrial products company's stock worth $67,000 after acquiring an additional 139 shares in the last quarter. Triodos Investment Management BV boosted its position in shares of Xylem by 12.7% during the 4th quarter. Triodos Investment Management BV now owns 234,000 shares of the industrial products company's stock worth $27,149,000 after acquiring an additional 26,300 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Xylem by 30.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the industrial products company's stock worth $215,000 after acquiring an additional 419 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of Xylem during the 4th quarter worth about $1,910,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Stock Performance

Shares of NYSE XYL traded up $0.52 during trading hours on Tuesday, reaching $131.52. The stock had a trading volume of 1,068,369 shares, compared to its average volume of 1,416,670. The firm has a market cap of $32.01 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.38 and a beta of 1.12. 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 Inc. has a fifty-two week low of $100.47 and a fifty-two week high of $143.50. The firm has a 50-day moving average of $126.42 and a 200-day moving average of $122.30.

Xylem (NYSE:XYL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.12% and a net margin of 10.54%. The business's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Equities research analysts predict that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.40 per share. 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 is presently 43.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup lowered their price objective on Xylem from $152.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus upped their price objective on Xylem from $140.00 to $141.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Raymond James Financial raised Xylem to a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. assumed coverage on Xylem in a research report on Friday, May 30th. They set an "overweight" rating and a $148.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on Xylem from $143.00 to $147.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.