Phoenix Financial Ltd. Purchases New Position in Xylem Inc. (NYSE:XYL)

Key Points

• Phoenix Financial Ltd. acquired a new position in Xylem Inc. during the first quarter, purchasing 3,758 shares valued at approximately $451,000.
• Several other institutional investors also adjusted their stakes in Xylem, with total institutional ownership reaching 87.96%.
• Xylem recently reported quarterly earnings of $1.03 EPS, surpassing analyst expectations and reflected a 1.8% revenue growth year-over-year.

Phoenix Financial Ltd. purchased a new position in Xylem Inc. (NYSE:XYL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,758 shares of the industrial products company's stock, valued at approximately $451,000.

A number of other institutional investors have also bought and sold shares of XYL. Geode Capital Management LLC lifted its position in shares of Xylem by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,804,247 shares of the industrial products company's stock worth $671,623,000 after buying an additional 135,492 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Xylem by 7.9% in the fourth quarter. Royal Bank of Canada now owns 4,369,804 shares of the industrial products company's stock worth $506,985,000 after buying an additional 320,500 shares in the last quarter. Invesco Ltd. lifted its position in shares of Xylem by 9.8% in the fourth quarter. Invesco Ltd. now owns 4,009,907 shares of the industrial products company's stock worth $465,229,000 after buying an additional 359,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Xylem by 8.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,750,377 shares of the industrial products company's stock worth $435,119,000 after buying an additional 301,070 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Xylem by 42.0% in the fourth quarter. Northern Trust Corp now owns 3,268,433 shares of the industrial products company's stock worth $379,204,000 after buying an additional 966,399 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Xylem Trading Down 0.6%

Shares of XYL traded down $0.76 during mid-day trading on Wednesday, reaching $131.20. 429,476 shares of the company's stock traded hands, compared to its average volume of 1,481,527. The stock has a market cap of $31.93 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.40 and a beta of 1.12. The stock's 50-day moving average is $128.59 and its two-hundred day moving average is $123.86. Xylem Inc. has a 12 month low of $100.47 and a 12 month high of $138.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.41.

Xylem (NYSE:XYL - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. The firm had revenue of $2.07 billion for 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 company's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Research analysts forecast that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, May 29th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.22%. Xylem's payout ratio is 43.01%.

Wall Street Analyst Weigh In

A number of research firms recently commented on XYL. Stifel Nicolaus boosted their target price on Xylem from $141.00 to $162.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Citigroup reiterated a "buy" rating and issued a $152.00 price target (up previously from $137.00) on shares of Xylem in a research report on Monday, July 14th. Raymond James Financial upgraded Xylem to a "hold" rating in a research report on Thursday, May 15th. Robert W. Baird dropped their price target on Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. initiated coverage on Xylem in a research report on Friday, May 30th. They issued an "overweight" rating and a $148.00 price target for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.29.

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.