Xylem (NYSE:XYL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Year to date, Xylem's shares have outperformed the industry. The company believes robust semiconductor and industrial end-markets' demand will continue to drive its revenues in the quarters ahead, while greater operational efficacy will boost bottom-line results. Integration process of the Analytics and Sensus businesses is right on track and is expected to drive its Measurement and Control Solutions segment's performance in the upcoming quarters. Xylem also intends to fund strategic investment projects and boost shareholders' return on the back of increased cost savings. However, Xylem's stock looks overvalued compared to the industry. Moreover, we expect that headwinds such as a stronger U.S. dollar, supply chain challenges or unfavorable climatic conditions might weigh over the company's near-term results.”

A number of other research firms also recently issued reports on XYL. Robert W. Baird reiterated a “hold” rating and set a $67.00 price target on shares of Xylem in a research report on Wednesday, October 4th. Cowen reissued a “buy” rating and set a $70.00 price objective on shares of Xylem in a research note on Thursday, September 21st. Oppenheimer reissued a “buy” rating on shares of Xylem in a research note on Tuesday, October 31st. Seaport Global Securities reissued a “buy” rating on shares of Xylem in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $63.00 price objective on shares of Xylem in a research note on Friday, October 13th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.17.

Shares of Xylem (XYL) traded down $0.93 during trading hours on Wednesday, reaching $67.84. 738,300 shares of the company were exchanged, compared to its average volume of 1,206,638. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.26 and a current ratio of 1.76. The firm has a market capitalization of $12,351.09, a P/E ratio of 30.03, a P/E/G ratio of 1.92 and a beta of 1.17. Xylem has a 1 year low of $46.67 and a 1 year high of $69.88.

Xylem (NYSE:XYL) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Xylem had a net margin of 6.85% and a return on equity of 17.74%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. analysts predict that Xylem will post 2.39 earnings per share for the current fiscal year.

In other Xylem news, Director Steven R. Loranger sold 37,700 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $66.25, for a total value of $2,497,625.00. Following the transaction, the director now owns 58,831 shares in the company, valued at approximately $3,897,553.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Curtis J. Crawford sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $66.44, for a total transaction of $498,300.00. Following the completion of the transaction, the director now owns 52,385 shares in the company, valued at approximately $3,480,459.40. The disclosure for this sale can be found here. Insiders have sold a total of 83,270 shares of company stock worth $5,501,312 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Invictus RG acquired a new position in Xylem in the 3rd quarter worth $104,000. Harfst & Associates Inc. increased its position in shares of Xylem by 26.1% in the 2nd quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 503 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Xylem by 2,700.0% in the 3rd quarter. FNY Partners Fund LP now owns 2,800 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,700 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Xylem in the 2nd quarter worth about $168,000. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in shares of Xylem in the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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About Xylem

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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