Xylem Inc. (NYSE:XYL) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of Xylem Inc. (NYSE:XYL) by 17.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,355,809 shares of the industrial products company’s stock after selling 1,106,911 shares during the quarter. Xylem accounts for 0.7% of Pictet Asset Management Holding SA’s portfolio, making the stock its 25th largest position. Pictet Asset Management Holding SA owned about 2.20% of Xylem worth $621,381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Impax Asset Management Group plc grew its holdings in Xylem by 231.5% during the fourth quarter. Impax Asset Management Group plc now owns 5,561,661 shares of the industrial products company’s stock worth $644,039,000 after acquiring an additional 3,883,845 shares during the period. Norges Bank acquired a new position in shares of Xylem in the 4th quarter worth approximately $302,734,000. AMF Tjanstepension AB acquired a new position in shares of Xylem in the 4th quarter worth approximately $96,658,000. Victory Capital Management Inc. raised its holdings in shares of Xylem by 42.9% in the 4th quarter. Victory Capital Management Inc. now owns 2,326,024 shares of the industrial products company’s stock worth $269,865,000 after purchasing an additional 698,745 shares in the last quarter. Finally, Swedbank AB lifted its stake in Xylem by 23.1% during the fourth quarter. Swedbank AB now owns 3,683,201 shares of the industrial products company’s stock valued at $427,325,000 after purchasing an additional 691,618 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Xylem Stock Down 0.8 %

NYSE:XYL opened at $122.19 on Friday. The business’s fifty day moving average price is $125.71 and its 200 day moving average price is $125.97. The firm has a market capitalization of $29.70 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.33 and a beta of 1.08. The company has a current ratio of 1.76, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. Xylem Inc. has a 1-year low of $113.26 and a 1-year high of $146.08.

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

Xylem Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Xylem’s previous quarterly dividend of $0.36. Xylem’s dividend payout ratio (DPR) is 43.72%.

Analysts Set New Price Targets

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

Xylem Company 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.