Exchange Traded Concepts LLC Cuts Stock Position in Xylem Inc. (NYSE:XYL)

Exchange Traded Concepts LLC decreased its stake in shares of Xylem Inc. (NYSE:XYL) by 68.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,724 shares of the industrial products company’s stock after selling 19,221 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Xylem were worth $1,178,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in XYL. Brown Miller Wealth Management LLC boosted its stake in Xylem by 2.6% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 11,702 shares of the industrial products company’s stock worth $1,580,000 after purchasing an additional 296 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Xylem by 5.9% in the third quarter. Ritholtz Wealth Management now owns 9,182 shares of the industrial products company’s stock worth $1,240,000 after buying an additional 512 shares during the last quarter. Evexia Wealth LLC lifted its stake in shares of Xylem by 29.8% in the third quarter. Evexia Wealth LLC now owns 5,083 shares of the industrial products company’s stock worth $681,000 after buying an additional 1,168 shares in the last quarter. First Affirmative Financial Network bought a new stake in shares of Xylem during the third quarter valued at approximately $287,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Xylem by 331.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,890 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 2,220 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Xylem Stock Up 0.6 %

NYSE XYL opened at $137.46 on Thursday. The stock’s 50-day moving average price is $133.42 and its 200-day moving average price is $135.04. The company has a market capitalization of $33.33 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 2.42 and a beta of 1.04. 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 Inc. has a 52 week low of $87.59 and a 52 week high of $146.08.

Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts predict that Xylem Inc. will post 4.26 earnings per share for the current year.

Xylem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 29th. Xylem’s dividend payout ratio is currently 51.25%.

Wall Street Analyst Weigh In

Several analysts have commented on XYL shares. Royal Bank of Canada increased their target price on Xylem from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their target price on Xylem from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group began coverage on shares of Xylem in a report on Tuesday, August 13th. They set a “buy” rating and a $165.00 price objective for the company. Finally, TD Cowen restated a “hold” rating and issued a $138.00 target price on shares of Xylem in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Xylem currently has a consensus rating of “Moderate Buy” and an average price target of $149.67.

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.