Xylem Inc. (NYSE:XYL) Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its holdings in Xylem Inc. by 224.9% during the first quarter, acquiring an additional 72,940 shares, bringing their total to 105,366 shares, valued at $12.59 million.
• Multiple analysts have rated Xylem favorably, with a consensus rating of "Moderate Buy" and a target price of $151.14, highlighting positive growth potential.
• Xylem recently reported earnings, with $1.26 EPS for the quarter, exceeding estimates and experiencing a 6.1% increase in revenue year-over-year.

Bank of Nova Scotia raised its position in shares of Xylem Inc. (NYSE:XYL - Free Report) by 224.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,366 shares of the industrial products company's stock after purchasing an additional 72,940 shares during the quarter. Bank of Nova Scotia's holdings in Xylem were worth $12,587,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. grew its stake in Xylem by 84.9% during the 1st quarter. Valley National Advisers Inc. now owns 220 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in shares of Xylem in the first quarter worth about $27,000. Center for Financial Planning Inc. boosted its stake in shares of Xylem by 52.0% in the first quarter. Center for Financial Planning Inc. now owns 266 shares of the industrial products company's stock worth $32,000 after buying an additional 91 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Xylem in the fourth quarter worth about $36,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Xylem in the first quarter worth about $41,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

XYL has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating and set a $152.00 price target (up previously from $137.00) on shares of Xylem in a research report on Monday, July 14th. JPMorgan Chase & Co. began coverage on Xylem in a report on Friday, May 30th. They set an "overweight" rating and a $148.00 target price for the company. Stifel Nicolaus increased their target price on Xylem from $162.00 to $175.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird dropped their price objective on Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Raymond James Financial raised Xylem to a "hold" rating in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.57.

Xylem Stock Down 0.4%

Shares of NYSE:XYL traded down $0.56 on Tuesday, hitting $143.41. 1,082,407 shares of the company's stock were exchanged, compared to its average volume of 1,146,266. The firm's 50-day moving average is $129.83 and its 200 day moving average is $124.55. The company has a market capitalization of $34.91 billion, a PE ratio of 37.25, a P/E/G ratio of 2.50 and a beta of 1.11. Xylem Inc. has a 1-year low of $100.47 and a 1-year high of $145.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.90.

Xylem (NYSE:XYL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.20 billion. Xylem had a return on equity of 10.33% and a net margin of 10.74%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Sell-side analysts predict that Xylem Inc. will post 4.65 EPS for the current year.

Xylem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, May 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, May 29th. Xylem's dividend payout ratio (DPR) is currently 41.56%.

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.