Canaccord Genuity Reiterates “Hold” Rating for Xylem (XYL)
Xylem (NYSE:XYL)‘s stock had its “hold” rating reiterated by equities researchers at Canaccord Genuity in a note issued to investors on Monday. They presently have a $65.00 price objective on the industrial products company’s stock. Canaccord Genuity’s price objective would suggest a potential downside of 3.39% from the stock’s current price.
The analysts wrote, “We believe XYL is executing well through choppy markets, and we see ample room for margin enhancement (business simplification, sourcing, localization). While short-cycle visibility should stay variable, product breadth and organizational optimization efforts, along with the Sensus deal, support more consistent results. We look to get constructive on a better risk/reward.””
Several other analysts have also issued reports on XYL. Stifel Nicolaus restated a “hold” rating and issued a $63.00 price objective on shares of Xylem in a report on Tuesday, September 5th. Boenning Scattergood restated an “outperform” rating on shares of Xylem in a report on Tuesday, September 5th. Cowen restated a “buy” rating and issued a $70.00 price objective on shares of Xylem in a report on Thursday, September 21st. Robert W. Baird reiterated a “hold” rating and set a $67.00 price target on shares of Xylem in a research note on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $71.00 price target (up from $64.00) on shares of Xylem in a research note on Wednesday, October 4th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.17.
Xylem (NYSE:XYL) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Xylem had a net margin of 6.85% and a return on equity of 17.74%. Xylem’s revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. research analysts anticipate that Xylem will post 2.39 earnings per share for the current year.
In other news, Director Curtis J. Crawford sold 7,500 shares of the business’s stock in a transaction dated 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 directly owns 52,385 shares of the company’s stock, valued at $3,480,459.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Colin R. Sabol sold 38,070 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $65.81, for a total value of $2,505,386.70. Following the transaction, the insider now directly owns 61,979 shares of the company’s stock, valued at $4,078,837.99. The disclosure for this sale can be found here. Insiders have sold 83,270 shares of company stock worth $5,501,312 over the last quarter. Insiders own 0.75% of the company’s stock.
Several institutional investors have recently made changes to their positions in XYL. USS Investment Management Ltd acquired a new position in shares of Xylem during the second quarter worth about $91,840,000. Janus Henderson Group PLC grew its position in shares of Xylem by 404.5% during the second quarter. Janus Henderson Group PLC now owns 1,853,943 shares of the industrial products company’s stock worth $102,758,000 after buying an additional 1,486,463 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Xylem by 554.0% during the second quarter. Voya Investment Management LLC now owns 1,242,748 shares of the industrial products company’s stock worth $68,886,000 after buying an additional 1,052,719 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Xylem during the second quarter worth about $48,151,000. Finally, State Street Corp grew its position in shares of Xylem by 11.5% during the second quarter. State Street Corp now owns 8,360,506 shares of the industrial products company’s stock worth $460,211,000 after buying an additional 861,484 shares in the last quarter. 85.57% of the stock is owned by institutional investors and hedge funds.
Xylem Company Profile
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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