Redmond Asset Management LLC Raises Stock Position in Xylem Inc. (NYSE:XYL)

Redmond Asset Management LLC boosted its position in shares of Xylem Inc. (NYSE:XYL) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 28,384 shares of the industrial products company’s stock after purchasing an additional 574 shares during the quarter. Redmond Asset Management LLC’s holdings in Xylem were worth $3,293,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Xylem by 1.9% during the third quarter. State Street Corp now owns 10,329,494 shares of the industrial products company’s stock worth $1,394,792,000 after purchasing an additional 189,820 shares in the last quarter. Geode Capital Management LLC boosted its stake in Xylem by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,668,755 shares of the industrial products company’s stock worth $762,804,000 after purchasing an additional 54,877 shares in the last quarter. Swedbank AB grew its position in Xylem by 23.1% during the 4th quarter. Swedbank AB now owns 3,683,201 shares of the industrial products company’s stock worth $427,325,000 after purchasing an additional 691,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Xylem by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,449,307 shares of the industrial products company’s stock worth $465,760,000 after buying an additional 32,645 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Xylem by 1.0% in the third quarter. Impax Asset Management Group plc now owns 1,677,816 shares of the industrial products company’s stock worth $226,555,000 after buying an additional 15,825 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Stock Performance

XYL opened at $127.32 on Friday. The firm has a fifty day moving average price of $121.81 and a 200 day moving average price of $127.19. Xylem Inc. has a 1 year low of $113.26 and a 1 year high of $146.08. The stock has a market cap of $30.93 billion, a P/E ratio of 34.79, a P/E/G ratio of 2.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.33.

Xylem (NYSE:XYL) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.06. Xylem had a net margin of 10.40% and a return on equity of 9.96%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, February 18th will be issued a $0.40 dividend. This is a positive change from Xylem’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Xylem’s dividend payout ratio (DPR) is presently 43.72%.

Wall Street Analysts Forecast Growth

XYL has been the topic of several research reports. Robert W. Baird upped their target price on Xylem from $139.00 to $148.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Citigroup lowered Xylem from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada decreased their target price on Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wolfe Research reiterated a “peer perform” rating on shares of Xylem in a report on Thursday, December 12th. Finally, TD Cowen decreased their price objective on shares of Xylem from $138.00 to $125.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Xylem has an average rating of “Moderate Buy” and an average target price of $149.90.

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.