State of Tennessee Department of Treasury Cuts Stake in Xylem Inc. (NYSE:XYL)

State of Tennessee Department of Treasury trimmed its holdings in Xylem Inc. (NYSE:XYL - Free Report) by 40.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,780 shares of the industrial products company's stock after selling 42,835 shares during the quarter. State of Tennessee Department of Treasury's holdings in Xylem were worth $7,284,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Lee Danner & Bass Inc. bought a new position in Xylem during the fourth quarter valued at approximately $30,000. Rialto Wealth Management LLC purchased a new position in shares of Xylem in the fourth quarter valued at $31,000. Heck Capital Advisors LLC bought a new stake in Xylem in the fourth quarter worth $36,000. SRS Capital Advisors Inc. raised its stake in Xylem by 69.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 317 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 130 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in Xylem by 122.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 318 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 175 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Xylem from $149.00 to $146.00 and set an "outperform" rating on the stock in a report on Wednesday. Citigroup decreased their price objective on Xylem from $152.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus dropped their target price on Xylem from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.11.

Xylem Trading Up 0.5 %

Shares of XYL stock traded up $0.61 on Wednesday, reaching $119.23. 515,950 shares of the company's stock were exchanged, compared to its average volume of 1,683,934. The company's fifty day simple moving average is $118.39 and its 200 day simple moving average is $122.18. Xylem Inc. has a 52 week low of $100.47 and a 52 week high of $146.08. The company has a current ratio of 1.76, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $29.01 billion, a PE ratio of 32.58, a P/E/G ratio of 2.33 and a beta of 1.08.

Xylem (NYSE:XYL - Get Free Report) last posted its quarterly 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 10.40% and a return on equity of 9.96%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts forecast that Xylem Inc. will post 4.65 EPS for the current year.

Xylem Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Xylem's previous quarterly dividend of $0.36. Xylem's payout ratio is currently 43.72%.

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.