Norges Bank Invests $302.73 Million in Xylem Inc. (NYSE:XYL)

Norges Bank bought a new stake in Xylem Inc. (NYSE:XYL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,609,322 shares of the industrial products company's stock, valued at approximately $302,734,000. Norges Bank owned approximately 1.07% of Xylem as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Lee Danner & Bass Inc. purchased a new position in Xylem in the 4th quarter valued at about $30,000. Rialto Wealth Management LLC acquired a new position in shares of Xylem in the fourth quarter worth about $31,000. Heck Capital Advisors LLC purchased a new position in Xylem in the fourth quarter valued at about $36,000. SRS Capital Advisors Inc. grew its stake in Xylem by 69.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 317 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 130 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in Xylem by 122.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 318 shares of the industrial products company's stock worth $37,000 after purchasing an additional 175 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup cut Xylem from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on shares of Xylem from $166.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Robert W. Baird raised their price objective on shares of Xylem from $139.00 to $148.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Finally, Wolfe Research restated a "peer perform" rating on shares of Xylem in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $149.89.

Xylem Stock Performance

XYL traded down $6.76 on Thursday, hitting $112.29. 842,222 shares of the company's stock were exchanged, compared to its average volume of 1,320,850. The company has a current ratio of 1.76, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $125.59 and a two-hundred day moving average of $125.65. The firm has a market cap of $27.29 billion, a PE ratio of 30.68, a P/E/G ratio of 2.33 and a beta of 1.08. Xylem Inc. has a twelve month low of $112.00 and a twelve month high of $146.08.

Xylem (NYSE:XYL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.18 billion. Xylem had a net margin of 10.40% and a return on equity of 9.96%. Xylem's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. On average, research analysts anticipate that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Xylem's previous quarterly dividend of $0.36. Xylem's payout ratio is 43.72%.

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.