Assenagon Asset Management S.A. Buys 108,672 Shares of Xylem Inc. (NYSE:XYL)

Assenagon Asset Management S.A. grew its stake in shares of Xylem Inc. (NYSE:XYL) by 95.0% during the fourth quarter, HoldingsChannel reports. The firm owned 223,074 shares of the industrial products company’s stock after purchasing an additional 108,672 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Xylem were worth $25,881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank grew its holdings in shares of Xylem by 56.7% during the 3rd quarter. Bangor Savings Bank now owns 235 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 85 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Xylem during the second quarter valued at approximately $33,000. Assetmark Inc. grew its stake in Xylem by 3,887.5% in the third quarter. Assetmark Inc. now owns 319 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 311 shares during the period. Catalyst Capital Advisors LLC raised its holdings in Xylem by 226.0% in the third quarter. Catalyst Capital Advisors LLC now owns 339 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 235 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Xylem by 318.2% during the fourth quarter. Versant Capital Management Inc now owns 368 shares of the industrial products company’s stock valued at $43,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

XYL has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. TD Cowen lowered their target price on shares of Xylem from $138.00 to $125.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Robert W. Baird cut their price target on Xylem from $175.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus lowered their price objective on Xylem from $172.00 to $166.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Xylem in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.10.

Xylem Price Performance

NYSE XYL opened at $119.08 on Friday. Xylem Inc. has a one year low of $109.39 and a one year high of $146.08. The stock has a 50-day moving average of $121.26 and a 200 day moving average of $128.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.96. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.89 and a beta of 1.06.

Xylem (NYSE:XYL) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Xylem had a net margin of 9.85% and a return on equity of 9.61%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. On average, sell-side analysts forecast that Xylem Inc. will post 4.23 EPS for the current year.

Xylem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, November 26th were paid a $0.36 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. Xylem’s dividend payout ratio (DPR) is currently 42.11%.

About Xylem

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.