Allstate Corp Invests $836,000 in Xylem Inc. (NYSE:XYL)

Allstate Corp acquired a new stake in shares of Xylem Inc. (NYSE:XYL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,209 shares of the industrial products company’s stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of XYL. Impax Asset Management Group plc increased its holdings in shares of Xylem by 231.5% in 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 purchasing an additional 3,883,845 shares during the period. Norges Bank bought a new position in Xylem in the 4th quarter worth about $302,734,000. AMF Tjanstepension AB purchased a new stake in shares of Xylem in the 4th quarter valued at about $96,658,000. Victory Capital Management Inc. boosted its position in shares of Xylem by 42.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,326,024 shares of the industrial products company’s stock valued at $269,865,000 after acquiring an additional 698,745 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Xylem by 23.1% during the fourth 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 in the last quarter. Institutional investors own 87.96% of the company’s stock.

Xylem Trading Up 0.1 %

Shares of XYL stock opened at $119.51 on Tuesday. The business has a 50-day moving average of $125.69 and a 200 day moving average of $125.77. 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 Inc. has a 1-year low of $113.26 and a 1-year high of $146.08. The stock has a market capitalization of $29.05 billion, a PE ratio of 32.65, a P/E/G 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 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 analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xylem Inc. will post 4.65 earnings per share for the current year.

Xylem Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup lowered shares of Xylem from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wolfe Research reissued a “peer perform” rating on shares of Xylem in a research note on Thursday, December 12th. Stifel Nicolaus lowered their price target on Xylem from $166.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Robert W. Baird upped their price objective on Xylem from $139.00 to $148.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.