Gyroscope Capital Management Group LLC boosted its position in Xylem Inc. (NYSE:XYL) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,387 shares of the industrial products company’s stock after purchasing an additional 316 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Xylem were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Moors & Cabot Inc. raised its stake in Xylem by 30.8% in the 2nd quarter. Moors & Cabot Inc. now owns 11,677 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 2,751 shares during the last quarter. Caxton Associates LP acquired a new position in Xylem in the 2nd quarter valued at about $4,434,000. PointState Capital LP acquired a new position in Xylem in the 2nd quarter valued at about $34,128,000. BlueCrest Capital Management Ltd raised its stake in Xylem by 2,095.9% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 229,385 shares of the industrial products company’s stock valued at $12,715,000 after purchasing an additional 218,939 shares during the last quarter. Finally, State Street Corp raised its stake in Xylem by 11.5% in the 2nd quarter. State Street Corp now owns 8,360,506 shares of the industrial products company’s stock valued at $460,211,000 after purchasing an additional 861,484 shares during the last quarter. 86.43% of the stock is owned by hedge funds and other institutional investors.
Xylem Inc. (XYL) traded up 0.14% during trading on Friday, reaching $64.56. The company’s stock had a trading volume of 806,123 shares. The stock’s 50-day moving average is $62.51 and its 200 day moving average is $55.79. Xylem Inc. has a 52-week low of $45.60 and a 52-week high of $64.80. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 41.68 and a beta of 1.17.
Xylem (NYSE:XYL) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. Xylem had a return on equity of 17.26% and a net margin of 6.58%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business earned $0.48 EPS. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, analysts predict that Xylem Inc. will post $2.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Thursday, August 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, August 29th. Xylem’s payout ratio is 46.45%.
In related news, insider Kenneth Napolitano sold 9,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $60.16, for a total value of $544,568.32. Following the transaction, the insider now directly owns 35,303 shares of the company’s stock, valued at approximately $2,123,828.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on the stock. Robert W. Baird reissued a “hold” rating and issued a $67.00 target price on shares of Xylem in a research note on Wednesday. Cowen and Company reaffirmed an “outperform” rating and set a $70.00 price objective (up previously from $60.00) on shares of Xylem in a research note on Wednesday, August 9th. Canaccord Genuity reaffirmed a “hold” rating and set a $56.00 price objective on shares of Xylem in a research note on Friday. Zacks Investment Research raised shares of Xylem from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Thursday. Finally, BMO Capital Markets upped their price objective on shares of Xylem from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $61.92.
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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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