Pinnacle Associates Ltd. Reduces Holdings in Xylem Inc. (NYSE:XYL)

Pinnacle Associates Ltd. cut its stake in Xylem Inc. (NYSE:XYL - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,566 shares of the industrial products company's stock after selling 18,123 shares during the period. Xylem makes up about 0.7% of Pinnacle Associates Ltd.'s holdings, making the stock its 26th largest holding. Pinnacle Associates Ltd. owned approximately 0.16% of Xylem worth $45,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in XYL. Valley National Advisers Inc. grew its position in Xylem by 84.9% in 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 period. Perkins Coie Trust Co purchased a new position in Xylem in the first quarter worth approximately $27,000. Center for Financial Planning Inc. grew its position in Xylem by 52.0% in the first quarter. Center for Financial Planning Inc. now owns 266 shares of the industrial products company's stock worth $32,000 after acquiring an additional 91 shares during the period. Heck Capital Advisors LLC purchased a new position in Xylem in the fourth quarter worth approximately $36,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Xylem in the first quarter worth approximately $41,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on XYL shares. JPMorgan Chase & Co. started coverage on Xylem in a research report on Friday, May 30th. They issued an "overweight" rating and a $148.00 price objective for the company. Royal Bank Of Canada raised their price target on Xylem from $143.00 to $147.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Stifel Nicolaus raised their price target on Xylem from $141.00 to $162.00 and gave the stock a "buy" rating in a research report on Monday. Robert W. Baird lowered 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, Raymond James Financial upgraded Xylem to a "hold" rating in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $149.29.

Xylem Stock Down 0.4%

Shares of NYSE XYL traded down $0.49 during mid-day trading on Thursday, hitting $131.28. The company had a trading volume of 716,327 shares, compared to its average volume of 1,144,015. The company has a market capitalization of $31.95 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. 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 Inc. has a 1-year low of $100.47 and a 1-year high of $143.50. The business's 50-day simple moving average is $128.31 and its 200 day simple moving average is $123.45.

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, beating analysts' consensus estimates of $0.95 by $0.08. Xylem had a return on equity of 10.12% and a net margin of 10.54%. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period last year, the firm earned $0.90 earnings per share. Xylem's quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Dividend Announcement

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

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.