Oppenheimer Holdings, Inc. set a $58.00 price objective on Xylem Inc. (NYSE:XYL) in a report released on Tuesday morning. The brokerage currently has a buy rating on the industrial products company’s stock.
XYL has been the topic of several other reports. Cowen and Company increased their target price on Xylem from $56.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, March 24th. Goldman Sachs Group, Inc. (The) started coverage on Xylem in a research report on Wednesday, March 8th. They issued a neutral rating and a $52.00 target price on the stock. CIBC reaffirmed a buy rating and issued a $58.00 target price on shares of Xylem in a research report on Thursday, April 6th. BidaskClub raised Xylem from a sell rating to a hold rating in a research report on Saturday, June 10th. Finally, Barclays PLC raised Xylem from an equal weight rating to an overweight rating and increased their target price for the stock from $51.00 to $59.00 in a research report on Monday, May 15th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Xylem has a consensus rating of Buy and an average price target of $55.58.
Shares of Xylem (NYSE:XYL) opened at 53.85 on Tuesday. The firm has a market capitalization of $9.68 billion, a PE ratio of 38.74 and a beta of 1.15. Xylem has a 52 week low of $42.52 and a 52 week high of $54.99. The stock has a 50 day moving average price of $52.44 and a 200-day moving average price of $50.25.
Xylem (NYSE:XYL) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Xylem had a return on equity of 15.53% and a net margin of 6.75%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Equities analysts anticipate that Xylem will post $2.31 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Thursday, May 25th were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 23rd. This represents a $0.72 annualized dividend and a yield of 1.34%. Xylem’s dividend payout ratio is currently 50.35%.
In related news, insider Tomas Brannemo sold 14,080 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $50.36, for a total value of $709,068.80. Following the completion of the sale, the insider now directly owns 21,000 shares in the company, valued at approximately $1,057,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Xylem by 2,452.8% in the first quarter. BlackRock Inc. now owns 12,042,342 shares of the industrial products company’s stock valued at $604,765,000 after buying an additional 11,570,613 shares in the last quarter. Norges Bank bought a new stake in shares of Xylem during the fourth quarter valued at about $192,855,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Xylem during the first quarter valued at about $54,623,000. Marshall Wace North America L.P. bought a new stake in shares of Xylem during the first quarter valued at about $54,623,000. Finally, Pictet Asset Management Ltd. increased its stake in shares of Xylem by 34.3% in the first quarter. Pictet Asset Management Ltd. now owns 4,024,188 shares of the industrial products company’s stock valued at $202,095,000 after buying an additional 1,027,438 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.
Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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