Xylem Inc. Declares Quarterly Dividend of $0.18 (XYL)
Xylem Inc. (NYSE:XYL) announced a quarterly dividend on Thursday, August 17th, RTT News reports. Shareholders of record on Thursday, August 31st will be given a dividend of 0.18 per share by the industrial products company on Wednesday, September 20th. This represents a $0.72 annualized dividend and a yield of 1.20%.
Xylem has decreased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Xylem has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Xylem to earn $2.74 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.3%.
Xylem (NYSE:XYL) opened at 59.93 on Thursday. Xylem has a one year low of $45.60 and a one year high of $60.71. The firm has a market capitalization of $10.76 billion, a P/E ratio of 38.69 and a beta of 1.18. The stock’s 50 day moving average is $57.27 and its 200 day moving average is $52.19.
Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts predict that Xylem will post $2.37 earnings per share for the current fiscal year.
XYL has been the subject of a number of research analyst reports. Barclays PLC raised shares of Xylem from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $51.00 to $59.00 in a report on Monday, May 15th. BidaskClub raised shares of Xylem from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. BMO Capital Markets initiated coverage on shares of Xylem in a report on Wednesday, June 21st. They set an “outperform” rating and a $60.00 price objective for the company. CIBC reaffirmed a “buy” rating on shares of Xylem in a report on Wednesday, May 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $52.00 price objective on shares of Xylem in a report on Thursday, July 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Xylem has a consensus rating of “Buy” and an average price target of $59.00.
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In other Xylem news, Director Steven R. Loranger sold 66,132 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $55.01, for a total value of $3,637,921.32. Following the completion of the sale, the director now directly owns 65,030 shares of the company’s stock, valued at $3,577,300.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Napolitano sold 9,052 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total transaction of $544,568.32. Following the completion of the sale, the insider now directly owns 35,303 shares of the company’s stock, valued at $2,123,828.48. The disclosure for this sale can be found here. Insiders own 0.75% 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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