Pier 88 Investment Partners LLC Decreases Position in Xylem Inc. (NYSE:XYL)

Pier 88 Investment Partners LLC reduced its stake in shares of Xylem Inc. (NYSE:XYL - Free Report) by 69.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375 shares of the industrial products company's stock after selling 3,135 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Xylem were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Valley National Advisers Inc. grew its stake in shares of Xylem by 84.9% during the first 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 last quarter. Perkins Coie Trust Co acquired a new position in shares of Xylem during the 1st quarter worth approximately $27,000. Lee Danner & Bass Inc. acquired a new position in Xylem in the 4th quarter valued at $30,000. Center for Financial Planning Inc. raised its stake in Xylem by 52.0% in 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. Finally, Heck Capital Advisors LLC acquired a new position in Xylem in the 4th quarter valued at $36,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on XYL shares. Robert W. Baird cut their price target on Xylem from $149.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Stifel Nicolaus upped their target price on Xylem from $141.00 to $162.00 and gave the company a "buy" rating in a research note on Monday. Raymond James Financial raised Xylem to a "hold" rating in a research report on Thursday, May 15th. Citigroup reissued a "buy" rating and issued a $152.00 price target (up previously from $137.00) on shares of Xylem in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. began coverage on Xylem in a research note on Friday, May 30th. They set an "overweight" rating and a $148.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.29.

Xylem Trading Down 0.6%

XYL stock traded down $0.76 during midday trading on Tuesday, hitting $131.18. The stock had a trading volume of 955,483 shares, compared to its average volume of 1,414,682. The firm has a market cap of $31.92 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. 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 Inc. has a 1-year low of $100.47 and a 1-year high of $143.50. The business has a fifty day moving average price of $127.92 and a two-hundred day moving average price of $123.13.

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

Xylem Dividend Announcement

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

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.