OVERSEA CHINESE BANKING Corp Ltd Buys 16,693 Shares of Xylem Inc. (NYSE:XYL)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Xylem Inc. by 8.0%, acquiring an additional 16,693 shares and holding approximately 224,930 shares worth $26.87 million.
• Several large investors, including Northern Trust Corp and GAMMA Investing LLC, significantly increased their holdings in Xylem, contributing to institutional ownership of 87.96%.
• Xylem's recent quarterly earnings report showed EPS of $1.26, beating estimates, with a revenue of $2.30 billion representing a 6.1% year-over-year growth.

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Xylem Inc. (NYSE:XYL - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,930 shares of the industrial products company's stock after acquiring an additional 16,693 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.09% of Xylem worth $26,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. raised its holdings in Xylem by 84.9% in the 1st quarter. Valley National Advisers Inc. now owns 220 shares of the industrial products company's stock worth $26,000 after acquiring an additional 101 shares during the period. Perkins Coie Trust Co bought a new position in Xylem during the first quarter worth $27,000. Center for Financial Planning Inc. raised its stake in Xylem by 52.0% during the 1st quarter. Center for Financial Planning Inc. now owns 266 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 91 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Xylem in the 4th quarter valued at $36,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Xylem in the 1st quarter worth $41,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on XYL shares. Raymond James Financial raised Xylem to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada upped their target price on shares of Xylem from $143.00 to $147.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Robert W. Baird lowered their price objective on shares of Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating and issued a $152.00 target price (up previously from $137.00) on shares of Xylem in a research report on Monday, July 14th. Finally, Stifel Nicolaus raised their price target on Xylem from $162.00 to $175.00 and gave the company a "buy" rating in a report on Friday. 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.14.

Xylem Trading Up 1.2%

Shares of Xylem stock traded up $1.71 on Monday, hitting $143.89. The stock had a trading volume of 1,593,476 shares, compared to its average volume of 1,132,611. The firm has a market capitalization of $35.02 billion, a P/E ratio of 37.37, a PEG ratio of 2.51 and a beta of 1.11. 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 Inc. has a twelve month low of $100.47 and a twelve month high of $144.83. The stock has a 50 day moving average of $129.44 and a 200 day moving average of $124.38.

Xylem (NYSE:XYL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.30 billion for 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 company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. Sell-side analysts expect that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, May 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 29th. Xylem's dividend payout ratio is presently 41.56%.

Xylem 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.