Kornitzer Capital Management Inc. KS Has $9.26 Million Stock Holdings in Xylem Inc. (NYSE:XYL)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Xylem Inc. (NYSE:XYL - Free Report) by 15.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,500 shares of the industrial products company's stock after selling 14,298 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Xylem were worth $9,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC acquired a new stake in Xylem during the first quarter worth about $694,000. Triodos Investment Management BV boosted its stake in Xylem by 12.7% during the fourth quarter. Triodos Investment Management BV now owns 234,000 shares of the industrial products company's stock worth $27,149,000 after buying an additional 26,300 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Xylem by 30.4% during the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the industrial products company's stock worth $215,000 after buying an additional 419 shares during the last quarter. Allianz SE acquired a new position in Xylem during the fourth quarter worth $1,910,000. Finally, NBC Securities Inc. purchased a new stake in Xylem in the first quarter valued at $72,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Xylem Stock Up 0.1%

Xylem stock traded up $0.11 during mid-day trading on Friday, hitting $132.57. 213,370 shares of the company's stock were exchanged, compared to its average volume of 1,411,137. The stock has a market cap of $32.26 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.37 and a beta of 1.12. The stock has a 50 day moving average of $127.72 and a two-hundred day moving average of $122.92. Xylem Inc. has a 1-year low of $100.47 and a 1-year high of $143.50. 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 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%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. As a group, analysts anticipate that Xylem Inc. will post 4.65 EPS for the current fiscal year.

Xylem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, May 29th were given a $0.40 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.60 annualized dividend and a yield of 1.21%. Xylem's dividend payout ratio is currently 43.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James Financial upgraded Xylem to a "hold" rating in a report on Thursday, May 15th. Citigroup restated a "buy" rating and set a $152.00 price target (up previously from $137.00) on shares of Xylem in a research note on Monday. JPMorgan Chase & Co. initiated coverage on Xylem in a research note on Friday, May 30th. They issued an "overweight" rating and a $148.00 target price on the stock. Stifel Nicolaus raised their price target on Xylem from $140.00 to $141.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Robert W. Baird reduced their price objective on Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Xylem presently has an average rating of "Moderate Buy" and a consensus price target of $146.29.

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.