Xylem Inc. (NYSE:XYL) Shares Sold by Eastern Bank

Key Points

• Eastern Bank reduced its holdings in Xylem Inc. by 22.2% during the first quarter, now owning 21,966 shares valued at approximately $2.6 million.
• Several institutional investors increased their positions in Xylem in the fourth quarter, with Northern Trust Corp raising its stake by 42.0%.
• Xylem's stock has an average rating of "Moderate Buy" with a consensus target price of $149.29, reflecting positive expectations from analysts.

Eastern Bank lowered its stake in shares of Xylem Inc. (NYSE:XYL - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,966 shares of the industrial products company's stock after selling 6,250 shares during the quarter. Eastern Bank's holdings in Xylem were worth $2,624,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Valley National Advisers Inc. boosted its position in Xylem by 84.9% in the first quarter. Valley National Advisers Inc. now owns 220 shares of the industrial products company's stock valued at $26,000 after buying an additional 101 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in Xylem in the first quarter valued at approximately $27,000. Center for Financial Planning Inc. boosted 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 buying an additional 91 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Xylem in the fourth quarter valued at approximately $36,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Xylem in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. 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. Robert W. Baird lowered their price objective on Xylem from $149.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. assumed coverage on Xylem in a research report on Friday, May 30th. They issued an "overweight" rating and a $148.00 price objective on the stock. Stifel Nicolaus upped their price objective on Xylem from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Raymond James Financial upgraded Xylem to a "hold" rating in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $151.14.

Xylem Price Performance

Shares of NYSE:XYL traded down $2.58 during midday trading on Friday, reaching $142.04. 2,023,902 shares of the company's stock traded hands, compared to its average volume of 1,031,416. Xylem Inc. has a 1 year low of $100.47 and a 1 year high of $144.83. The company has a market cap of $34.57 billion, a P/E ratio of 36.89, a PEG ratio of 2.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.90. The company has a fifty day simple moving average of $129.44 and a two-hundred day simple moving average of $124.29.

Xylem (NYSE:XYL - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. Xylem had a return on equity of 10.33% and a net margin of 10.74%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $1.09 EPS. The business's revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Xylem Inc. will post 4.65 EPS for the current fiscal year.

Xylem Dividend Announcement

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