Elefante Mark B Purchases 2,989 Shares of Xylem Inc. (NYSE:XYL)

Key Points

• Elefante Mark B increased its stake in Xylem Inc. by 14.2%, now owning 24,110 shares valued at approximately $2.88 million.
• Xylem's quarterly earnings report showed an EPS of $1.03, exceeding analysts' expectations of $0.95, along with a revenue of $2.07 billion.
• Research analysts have mixed views on Xylem, with an average rating of "Moderate Buy" and a target price of $149.29, reflecting optimism in its growth potential.

Elefante Mark B lifted its stake in Xylem Inc. (NYSE:XYL - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,110 shares of the industrial products company's stock after buying an additional 2,989 shares during the period. Xylem comprises 2.3% of Elefante Mark B's portfolio, making the stock its 22nd biggest holding. Elefante Mark B's holdings in Xylem were worth $2,880,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Xylem by 2.4% during 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 purchasing an additional 135,492 shares during the period. Royal Bank of Canada lifted its stake in Xylem by 7.9% during 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 purchasing an additional 320,500 shares during the period. Invesco Ltd. lifted its stake in Xylem by 9.8% during the fourth quarter. Invesco Ltd. now owns 4,009,907 shares of the industrial products company's stock worth $465,229,000 after purchasing an additional 359,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Xylem by 8.7% during 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 purchasing an additional 301,070 shares during the period. Finally, Northern Trust Corp lifted its stake in Xylem by 42.0% during the fourth quarter. Northern Trust Corp now owns 3,268,433 shares of the industrial products company's stock worth $379,204,000 after purchasing an additional 966,399 shares during the period. Institutional investors own 87.96% of the company's stock.

Xylem Price Performance

Shares of Xylem stock traded up $0.20 during midday trading on Monday, reaching $132.77. The company had a trading volume of 274,314 shares, compared to its average volume of 1,490,297. The company has a current ratio of 1.89, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The stock has a fifty day simple moving average of $128.40 and a 200 day simple moving average of $123.67. Xylem Inc. has a 1-year low of $100.47 and a 1-year high of $143.50.

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, topping analysts' consensus estimates of $0.95 by $0.08. Xylem had a net margin of 10.54% and a return on equity of 10.12%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, May 29th were issued 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 presently 43.01%.

Analysts Set New Price Targets

XYL has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on shares of Xylem from $141.00 to $162.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. initiated coverage on shares of Xylem in a report on Friday, May 30th. They set an "overweight" rating and a $148.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of Xylem from $143.00 to $147.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating and set a $152.00 price objective (up previously from $137.00) on shares of Xylem in a report on Monday, July 14th. Finally, Robert W. Baird dropped their price objective on shares of Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.