Xylem Inc. (NYSE:XYL) saw an uptick in trading volume on Friday following a dividend announcement from the company. 370,557 shares traded hands during trading, a decline of 6% from the previous session’s volume of 394,251 shares.The stock last traded at $49.77 and had previously closed at $49.66.
The newly announced dividend which will be paid on Wednesday, December 7th. Stockholders of record on Wednesday, November 9th will be given a dividend of $0.1549 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.25%. Xylem’s dividend payout ratio is presently 33.16%.
Several brokerages have recently weighed in on XYL. Atlantic Securities upgraded Xylem from a “neutral” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Monday, August 22nd. RBC Capital Markets set a $51.00 price objective on shares of Xylem and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Royal Bank Of Canada upped their price objective on shares of Xylem from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 16th. Canaccord Genuity restated a “hold” rating and issued a $50.00 price objective (up from $45.00) on shares of Xylem in a research report on Tuesday, August 16th. Finally, Barclays PLC upped their price objective on shares of Xylem from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.00.
The company has a 50 day moving average price of $50.93 and a 200 day moving average price of $46.39. The firm has a market capitalization of $8.92 billion, a P/E ratio of 26.57 and a beta of 1.15.
Xylem (NYSE:XYL) last issued its earnings results on Tuesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $932 million for the quarter, compared to the consensus estimate of $927.69 million. Xylem had a return on equity of 16.41% and a net margin of 9.22%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities research analysts expect that Xylem Inc. will post $2.04 EPS for the current fiscal year.
In other Xylem news, Director Steven R. Loranger sold 32,246 shares of Xylem stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $48.01, for a total value of $1,548,130.46. Following the sale, the director now owns 38,334 shares of the company’s stock, valued at approximately $1,840,415.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven R. Loranger sold 33,887 shares of Xylem stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $48.11, for a total value of $1,630,303.57. Following the completion of the sale, the director now directly owns 11,243 shares in the company, valued at approximately $540,900.73. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Xylem during the first quarter worth about $35,673,000. Legal & General Group Plc increased its stake in Xylem by 1.8% in the first quarter. Legal & General Group Plc now owns 767,829 shares of the company’s stock worth $31,403,000 after buying an additional 13,271 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Xylem by 45.9% in the first quarter. Meeder Asset Management Inc. now owns 25,240 shares of the company’s stock worth $1,032,000 after buying an additional 7,938 shares during the last quarter. Geode Capital Management LLC increased its stake in Xylem by 1.1% in the first quarter. Geode Capital Management LLC now owns 1,484,650 shares of the company’s stock worth $60,604,000 after buying an additional 15,589 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Xylem by 362.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,240,920 shares of the company’s stock worth $50,754,000 after buying an additional 972,803 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.
Xylem Inc is engaged in the design, manufacturing, and application of engineered technologies for the water industry. The Company is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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