OLD National Bancorp IN Has $339,000 Stock Position in Xylem Inc. (NYSE:XYL)

OLD National Bancorp IN reduced its holdings in shares of Xylem Inc. (NYSE:XYL) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,965 shares of the industrial products company’s stock after selling 937 shares during the quarter. OLD National Bancorp IN’s holdings in Xylem were worth $339,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its holdings in Xylem by 1.2% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 71,573 shares of the industrial products company’s stock worth $8,185,000 after purchasing an additional 878 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Xylem by 18.0% during the fourth quarter. Handelsbanken Fonder AB now owns 777,189 shares of the industrial products company’s stock worth $88,879,000 after purchasing an additional 118,578 shares during the last quarter. CWM LLC boosted its holdings in Xylem by 11.6% during the fourth quarter. CWM LLC now owns 8,578 shares of the industrial products company’s stock worth $981,000 after purchasing an additional 891 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Xylem by 14.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,286 shares of the industrial products company’s stock worth $2,663,000 after purchasing an additional 2,990 shares during the last quarter. Finally, abrdn plc boosted its holdings in Xylem by 15.7% during the fourth quarter. abrdn plc now owns 811,295 shares of the industrial products company’s stock worth $92,780,000 after purchasing an additional 109,918 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Stock Performance

Xylem stock opened at $130.61 on Friday. The firm’s 50 day simple moving average is $127.44 and its 200 day simple moving average is $113.34. The company has a current ratio of 1.76, a quick ratio of 1.30 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $31.66 billion, a PE ratio of 48.02, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. Xylem Inc. has a 1-year low of $87.59 and a 1-year high of $132.23.

Xylem (NYSE:XYL) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Xylem had a net margin of 8.27% and a return on equity of 9.65%. Xylem’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, analysts expect that Xylem Inc. will post 4.13 earnings per share for the current fiscal year.

Xylem Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 21st were paid a $0.36 dividend. This is a boost from Xylem’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. Xylem’s dividend payout ratio is 52.94%.

Insider Activity

In other Xylem news, CAO Geri-Michelle Mcshane sold 1,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the completion of the sale, the chief accounting officer now owns 2,935 shares of the company’s stock, valued at approximately $360,682.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Xylem news, CAO Geri-Michelle Mcshane sold 1,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the completion of the sale, the chief accounting officer now owns 2,935 shares of the company’s stock, valued at approximately $360,682.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Franz Cerwinka sold 2,408 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $121.79, for a total transaction of $293,270.32. Following the sale, the senior vice president now directly owns 11,750 shares of the company’s stock, valued at approximately $1,431,032.50. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

XYL has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Xylem from $141.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Royal Bank of Canada boosted their target price on shares of Xylem from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup boosted their target price on shares of Xylem from $126.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Raymond James upgraded shares of Xylem from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Finally, Oppenheimer boosted their target price on shares of Xylem from $133.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.11.

Xylem Profile

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.