Xylem Inc. (NYSE:XYL) Position Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its stake in shares of Xylem Inc. (NYSE:XYL - Free Report) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 505,001 shares of the industrial products company's stock after purchasing an additional 15,772 shares during the period. Xylem comprises approximately 1.1% of Pinnacle Associates Ltd.'s holdings, making the stock its 14th largest position. Pinnacle Associates Ltd. owned approximately 0.21% of Xylem worth $68,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in XYL. Swedbank AB raised its stake in Xylem by 22.8% during the 3rd quarter. Swedbank AB now owns 2,991,583 shares of the industrial products company's stock worth $403,953,000 after buying an additional 554,609 shares during the period. Mirova US LLC increased its position in Xylem by 2.0% in the 2nd quarter. Mirova US LLC now owns 1,876,618 shares of the industrial products company's stock valued at $254,526,000 after acquiring an additional 36,013 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Xylem by 2.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,665,090 shares of the industrial products company's stock valued at $227,364,000 after purchasing an additional 36,601 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Xylem by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,474,033 shares of the industrial products company's stock worth $199,930,000 after acquiring an additional 113,571 shares in the last quarter. Finally, abrdn plc lifted its position in shares of Xylem by 2.2% during the third quarter. abrdn plc now owns 1,083,405 shares of the industrial products company's stock valued at $145,030,000 after purchasing an additional 23,736 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Stock Performance

XYL stock traded up $0.43 during midday trading on Wednesday, hitting $130.32. 198,018 shares of the company traded hands, compared to its average volume of 1,172,059. The stock has a market capitalization of $31.65 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 2.30 and a beta of 1.04. The business has a 50 day simple moving average of $133.52 and a 200-day simple moving average of $135.31. The company has a quick ratio of 1.33, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Xylem Inc. has a twelve month low of $91.42 and a twelve month high of $146.08.

Xylem (NYSE:XYL - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.14 billion. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts predict that Xylem Inc. will post 4.26 earnings per share for the current year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, August 29th were issued a $0.36 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.44 annualized dividend and a yield of 1.10%. Xylem's dividend payout ratio is presently 45.57%.

Wall Street Analyst Weigh In

XYL has been the topic of a number of research reports. TD Cowen reissued a "hold" rating and set a $138.00 price objective on shares of Xylem in a report on Tuesday, September 3rd. Stifel Nicolaus lifted their price objective on Xylem from $170.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their target price on Xylem from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. UBS Group assumed coverage on Xylem in a report on Tuesday, August 13th. They issued a "buy" rating and a $165.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on Xylem from $160.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.67.

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.

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