Norges Bank Takes Position in Xylem Inc. (NYSE:XYL)

Norges Bank acquired a new stake in shares of Xylem Inc. (NYSE:XYL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,609,322 shares of the industrial products company’s stock, valued at approximately $302,734,000. Norges Bank owned 1.07% of Xylem at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XYL. Brooklyn Investment Group bought a new stake in shares of Xylem in the 3rd quarter worth $55,000. Glenmede Trust Co. NA raised its position in Xylem by 3.4% in the third quarter. Glenmede Trust Co. NA now owns 18,399 shares of the industrial products company’s stock worth $2,484,000 after acquiring an additional 605 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Xylem by 12.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,610 shares of the industrial products company’s stock valued at $1,433,000 after acquiring an additional 1,200 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Xylem during the 3rd quarter valued at about $68,593,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Xylem in the 3rd quarter worth approximately $131,000. Institutional investors own 87.96% of the company’s stock.

Xylem Trading Down 2.1 %

Shares of NYSE:XYL opened at $119.42 on Friday. The firm has a fifty day moving average of $125.70 and a two-hundred day moving average of $125.88. The company has a quick ratio of 1.33, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. Xylem Inc. has a 12-month low of $113.26 and a 12-month high of $146.08. The firm has a market capitalization of $29.02 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08.

Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Xylem had a return on equity of 9.96% and a net margin of 10.40%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts expect that Xylem Inc. will post 4.65 EPS for the current fiscal year.

Xylem Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on XYL shares. Robert W. Baird increased their target price on shares of Xylem from $139.00 to $148.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Stifel Nicolaus cut their target price on Xylem from $166.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wolfe Research reissued a “peer perform” rating on shares of Xylem in a research note on Thursday, December 12th. Finally, Citigroup cut shares of Xylem from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

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.