Goldman Sachs Group Inc. cut its position in shares of Xylem Inc (NYSE:XYL) by 29.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,845,966 shares of the industrial products company’s stock after selling 1,162,301 shares during the quarter. Goldman Sachs Group Inc. owned 1.58% of Xylem worth $194,095,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Stone Ridge Asset Management LLC acquired a new position in shares of Xylem in the fourth quarter worth $795,000. Baker Avenue Asset Management LP raised its holdings in shares of Xylem by 6.0% in the fourth quarter. Baker Avenue Asset Management LP now owns 18,790 shares of the industrial products company’s stock worth $1,281,000 after acquiring an additional 1,058 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Xylem by 20.0% in the fourth quarter. Wolverine Asset Management LLC now owns 30,000 shares of the industrial products company’s stock worth $2,046,000 after acquiring an additional 5,000 shares during the last quarter. Jefferies Group LLC raised its holdings in shares of Xylem by 339.8% in the fourth quarter. Jefferies Group LLC now owns 32,067 shares of the industrial products company’s stock worth $2,187,000 after acquiring an additional 24,776 shares during the last quarter. Finally, Granite Springs Asset Management LLC acquired a new position in shares of Xylem in the fourth quarter worth $756,000. 85.46% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Curtis J. Crawford sold 7,948 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.77, for a total value of $570,427.96. Following the completion of the sale, the director now owns 55,245 shares of the company’s stock, valued at $3,964,933.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tomas Brannemo sold 2,260 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $67.75, for a total value of $153,115.00. Following the completion of the sale, the insider now directly owns 10,975 shares of the company’s stock, valued at approximately $743,556.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,416 shares of company stock valued at $6,123,979. 0.75% of the stock is owned by company insiders.
Xylem (NYSE:XYL) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Xylem had a return on equity of 17.95% and a net margin of 7.03%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. analysts expect that Xylem Inc will post 2.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Xylem’s previous quarterly dividend of $0.18. Xylem’s payout ratio is 45.65%.
XYL has been the subject of a number of analyst reports. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of Xylem in a report on Tuesday, March 6th. Zacks Investment Research raised Xylem from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Sunday, January 21st. Canaccord Genuity reissued a “hold” rating and issued a $75.00 price target on shares of Xylem in a report on Sunday, January 28th. Oppenheimer boosted their price target on Xylem to $82.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Seaport Global Securities reissued a “buy” rating and issued a $83.00 price target on shares of Xylem in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Xylem has an average rating of “Buy” and a consensus target price of $72.42.
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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