Pictet Asset Management Holding SA Cuts Stock Position in Xylem Inc. (NYSE:XYL)

Pictet Asset Management Holding SA reduced its stake in shares of Xylem Inc. (NYSE:XYL - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,092,667 shares of the industrial products company's stock after selling 263,142 shares during the quarter. Xylem accounts for approximately 0.7% of Pictet Asset Management Holding SA's portfolio, making the stock its 28th largest holding. Pictet Asset Management Holding SA owned 2.09% of Xylem worth $608,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XYL. Valley National Advisers Inc. grew its position in shares of 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 purchasing an additional 101 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Xylem in the first quarter valued at approximately $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Xylem in the fourth quarter valued at approximately $30,000. Center for Financial Planning Inc. grew its position 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 valued at $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Xylem in the fourth quarter valued at approximately $36,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Trading Up 0.2%

NYSE:XYL traded up $0.22 during trading hours on Friday, reaching $132.68. 974,433 shares of the company were exchanged, compared to its average volume of 1,415,908. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.41. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 2.41 and a beta of 1.12. Xylem Inc. has a 52-week low of $100.47 and a 52-week high of $143.50. The stock has a 50 day simple moving average of $127.92 and a 200 day simple moving average of $123.04.

Xylem (NYSE:XYL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.04 billion. Xylem had a net margin of 10.54% and a return on equity of 10.12%. Xylem's revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, analysts predict that Xylem Inc. will post 4.65 EPS for the current year.

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 1.21%. The ex-dividend date was Thursday, May 29th. Xylem's dividend payout ratio is currently 43.01%.

Analyst Upgrades and Downgrades

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

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.