Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in Xylem Inc. (NYSE:XYL)

Key Points

• Zurcher Kantonalbank reduced its holdings in Xylem Inc. (NYSE:XYL) by 37.9%, now owning approximately 208,004 shares valued at $24.8 million.
• Wall Street analysts have varying views on Xylem, with three holding a "hold" rating and six issuing a "buy" rating, estimating an average price target of $149.29.
• Xylem recently announced a quarterly dividend of $0.40, resulting in an annual yield of 1.21%, alongside reporting a 1.8% year-over-year revenue increase.

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Xylem Inc. (NYSE:XYL - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 208,004 shares of the industrial products company's stock after selling 127,178 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Xylem worth $24,848,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its holdings in Xylem by 84.9% in the 1st 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 bought a new position in Xylem in the 1st quarter worth about $27,000. Center for Financial Planning Inc. boosted 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 worth $32,000 after purchasing an additional 91 shares during the period. Heck Capital Advisors LLC bought a new position in Xylem in the 4th quarter worth about $36,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Xylem in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Xylem Price Performance

NYSE:XYL traded down $3.16 during mid-day trading on Friday, reaching $141.46. The stock had a trading volume of 818,792 shares, compared to its average volume of 1,500,314. The firm has a 50 day moving average price of $129.08 and a two-hundred day moving average price of $124.10. The stock has a market capitalization of $34.42 billion, a P/E ratio of 37.96, a P/E/G ratio of 2.37 and a beta of 1.12. Xylem Inc. has a one year low of $100.47 and a one year high of $144.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.41 and a current ratio of 1.89.

Xylem (NYSE:XYL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.20 billion. Xylem had a return on equity of 10.12% and a net margin of 10.54%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, analysts expect that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Xylem's payout ratio is 43.01%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Xylem in a research note on Friday, May 30th. They issued an "overweight" rating and a $148.00 target price for the company. Raymond James Financial upgraded Xylem to a "hold" rating in a research note on Thursday, May 15th. Robert W. Baird cut their target price on Xylem from $149.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on Xylem from $143.00 to $147.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus lifted their price target on Xylem from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $151.14.

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.