Xylem Inc. (NYSE:XYL) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in Xylem Inc. (NYSE:XYL) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 489,229 shares of the industrial products company’s stock after selling 11,644 shares during the quarter. Xylem comprises approximately 1.0% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 18th biggest holding. Pinnacle Associates Ltd. owned 0.20% of Xylem worth $66,354,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Xylem by 68.8% during the first quarter. EverSource Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 77 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Xylem by 3.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,317 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 79 shares during the period. Waycross Investment Management Co increased its stake in shares of Xylem by 1.8% during the second quarter. Waycross Investment Management Co now owns 4,895 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 87 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Xylem by 2.3% during the first quarter. Bleakley Financial Group LLC now owns 4,042 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 90 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Xylem by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 8,203 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XYL. Royal Bank of Canada raised their target price on shares of Xylem from $160.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer raised their target price on shares of Xylem from $147.00 to $152.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. TD Cowen raised their target price on shares of Xylem from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Mizuho raised their target price on shares of Xylem from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus raised their target price on shares of Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Xylem has an average rating of “Moderate Buy” and an average target price of $147.54.

Xylem Stock Up 1.3 %

Shares of NYSE:XYL traded up $1.76 during trading on Friday, reaching $137.53. 1,263,088 shares of the company traded hands, compared to its average volume of 1,208,795. The firm has a fifty day simple moving average of $134.76 and a 200 day simple moving average of $133.46. The firm has a market cap of $33.34 billion, a P/E ratio of 48.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.04. Xylem Inc. has a 1-year low of $87.59 and a 1-year high of $146.08. The company has a quick ratio of 1.33, a current ratio of 1.85 and a debt-to-equity ratio of 0.19.

Xylem (NYSE:XYL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.14 billion. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Analysts anticipate that Xylem Inc. will post 4.25 earnings per share for the current fiscal year.

Xylem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. Xylem’s dividend payout ratio is currently 51.25%.

Insider Activity

In other news, CAO Geri-Michelle Mcshane sold 2,278 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $138.63, for a total transaction of $315,799.14. Following the transaction, the chief accounting officer now owns 3,536 shares in the company, valued at approximately $490,195.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Rodney Aulick sold 21,800 shares of Xylem stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $139.01, for a total value of $3,030,418.00. Following the transaction, the senior vice president now owns 76,287 shares in the company, valued at approximately $10,604,655.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Geri-Michelle Mcshane sold 2,278 shares of Xylem stock in a transaction on Monday, June 10th. The stock was sold at an average price of $138.63, for a total transaction of $315,799.14. Following the completion of the transaction, the chief accounting officer now owns 3,536 shares in the company, valued at approximately $490,195.68. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

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.