Allstate Corp Makes New Investment in Xylem Inc. $XYL

Allstate Corp bought a new stake in Xylem Inc. (NYSE:XYL) in the third quarter, HoldingsChannel reports. The institutional investor bought 8,789 shares of the industrial products company’s stock, valued at approximately $1,296,000.

Other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc grew its holdings in shares of Xylem by 13.7% during the second quarter. Impax Asset Management Group plc now owns 5,499,688 shares of the industrial products company’s stock worth $709,183,000 after buying an additional 663,191 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in Xylem during the third quarter worth approximately $1,148,000. XXEC Inc. grew its stake in Xylem by 66.0% in the 2nd quarter. XXEC Inc. now owns 33,698 shares of the industrial products company’s stock worth $4,359,000 after acquiring an additional 13,404 shares during the period. Burney Co. raised its holdings in Xylem by 220.5% in the 3rd quarter. Burney Co. now owns 18,574 shares of the industrial products company’s stock valued at $2,740,000 after acquiring an additional 12,779 shares during the last quarter. Finally, Covea Finance raised its holdings in Xylem by 25.5% in the 3rd quarter. Covea Finance now owns 231,547 shares of the industrial products company’s stock valued at $34,153,000 after acquiring an additional 47,000 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Xylem Price Performance

XYL opened at $138.81 on Wednesday. Xylem Inc. has a twelve month low of $100.47 and a twelve month high of $154.27. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.07 and a beta of 1.17. The company has a current ratio of 1.96, a quick ratio of 1.50 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $139.94 and a 200 day simple moving average of $141.39.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.14. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Xylem had a net margin of 10.66% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 EPS. Xylem has set its FY 2025 guidance at 5.030-5.080 EPS. Equities research analysts expect that Xylem Inc. will post 4.65 EPS for the current fiscal year.

Xylem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, November 25th. This represents a $1.60 annualized dividend and a yield of 1.2%. Xylem’s payout ratio is currently 41.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on XYL shares. Mizuho decreased their price objective on Xylem from $160.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Stifel Nicolaus raised their price target on Xylem from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on Xylem from $169.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Zacks Research lowered shares of Xylem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, UBS Group boosted their target price on shares of Xylem from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Xylem has an average rating of “Moderate Buy” and an average price target of $165.80.

Insider Buying and Selling

In other Xylem news, Director Victoria D. Harker sold 1,700 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $148.14, for a total transaction of $251,838.00. Following the transaction, the director directly owned 16,875 shares in the company, valued at $2,499,862.50. This represents a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Claudia S. Toussaint sold 10,421 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $152.64, for a total transaction of $1,590,661.44. Following the completion of the sale, the executive vice president directly owned 31,250 shares of the company’s stock, valued at $4,770,000. The trade was a 25.01% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company’s stock.

Xylem Company Profile

Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.

The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.