Nations Financial Group Inc. IA ADV grew its holdings in shares of Xylem Inc. (NYSE:XYL – Free Report) by 266.8% in the 4th quarter, HoldingsChannel reports. The firm owned 6,317 shares of the industrial products company’s stock after acquiring an additional 4,595 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Xylem were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the business. State of Wyoming grew its position in Xylem by 10.4% during the third quarter. State of Wyoming now owns 756 shares of the industrial products company’s stock valued at $112,000 after buying an additional 71 shares during the period. Orion Porfolio Solutions LLC raised its position in Xylem by 1.0% in the third quarter. Orion Porfolio Solutions LLC now owns 7,802 shares of the industrial products company’s stock worth $1,151,000 after acquiring an additional 74 shares during the period. Journey Strategic Wealth LLC raised its position in Xylem by 1.5% in the third quarter. Journey Strategic Wealth LLC now owns 5,107 shares of the industrial products company’s stock worth $753,000 after acquiring an additional 77 shares during the period. Quest Investment Management LLC boosted its stake in Xylem by 1.0% in the third quarter. Quest Investment Management LLC now owns 7,588 shares of the industrial products company’s stock valued at $1,119,000 after acquiring an additional 77 shares during the last quarter. Finally, Keel Point LLC boosted its stake in Xylem by 4.6% in the third quarter. Keel Point LLC now owns 1,784 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 79 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.
Xylem Price Performance
Shares of Xylem stock opened at $121.19 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $29.47 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.18. The business’s 50-day moving average price is $125.00 and its 200-day moving average price is $136.54. Xylem Inc. has a 12 month low of $107.04 and a 12 month high of $154.27.
Xylem declared that its board has initiated a stock repurchase program on Wednesday, February 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Xylem Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, February 24th. This is a positive change from Xylem’s previous quarterly dividend of $0.40. Xylem’s dividend payout ratio is 43.88%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Xylem from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 6th. Barclays dropped their target price on shares of Xylem from $166.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Royal Bank Of Canada dropped their target price on shares of Xylem from $176.00 to $162.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 11th. William Blair started coverage on shares of Xylem in a research note on Monday, January 26th. They issued an “outperform” rating on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $160.00 price target (down from $165.00) on shares of Xylem in a research report on Wednesday, April 1st. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.31.
Check Out Our Latest Stock Report on XYL
Xylem Company Profile
Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.
The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.
Further Reading
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