Eastern Bank Invests $4.14 Million in Xylem Inc. (NYSE:XYL)

Eastern Bank purchased a new position in shares of Xylem Inc. (NYSE:XYL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,653 shares of the industrial products company’s stock, valued at approximately $4,139,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in Xylem during the first quarter worth $311,684,000. Sei Investments Co. grew its stake in shares of Xylem by 56.4% during the 1st quarter. Sei Investments Co. now owns 1,013,314 shares of the industrial products company’s stock worth $130,961,000 after purchasing an additional 365,420 shares during the period. LPL Financial LLC grew its stake in shares of Xylem by 246.6% during the 2nd quarter. LPL Financial LLC now owns 324,504 shares of the industrial products company’s stock worth $44,012,000 after purchasing an additional 230,878 shares during the period. Jennison Associates LLC purchased a new position in shares of Xylem in the 1st quarter valued at about $29,234,000. Finally, TCW Group Inc. lifted its stake in shares of Xylem by 189.2% in the second quarter. TCW Group Inc. now owns 315,400 shares of the industrial products company’s stock valued at $42,778,000 after purchasing an additional 206,350 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

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

Xylem Stock Performance

Shares of XYL opened at $131.37 on Wednesday. The company has a market capitalization of $31.91 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 2.36 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.85. Xylem Inc. has a 1 year low of $87.59 and a 1 year high of $146.08. The company’s 50 day simple moving average is $133.77 and its 200 day simple moving average is $135.21.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Xylem had a return on equity of 9.48% and a net margin of 9.11%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. On average, sell-side analysts predict that Xylem Inc. will post 4.26 EPS for the current year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, August 29th. Xylem’s dividend payout ratio is currently 45.57%.

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.