Parnassus Investments LLC Sells 17,982 Shares of Xylem Inc. (NYSE:XYL)

Parnassus Investments LLC cut its holdings in shares of Xylem Inc. (NYSE:XYL - Free Report) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,247 shares of the industrial products company's stock after selling 17,982 shares during the period. Parnassus Investments LLC owned about 0.23% of Xylem worth $76,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XYL. EverSource Wealth Advisors LLC lifted its position in shares of Xylem by 68.8% during the first quarter. EverSource Wealth Advisors LLC now owns 189 shares of the industrial products company's stock worth $25,000 after purchasing an additional 77 shares in the last quarter. Bangor Savings Bank boosted its position in Xylem by 56.7% in the 3rd quarter. Bangor Savings Bank now owns 235 shares of the industrial products company's stock valued at $32,000 after buying an additional 85 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in Xylem in the 2nd quarter valued at $33,000. Blue Trust Inc. increased its stake in shares of Xylem by 1,185.7% in the 2nd quarter. Blue Trust Inc. now owns 270 shares of the industrial products company's stock valued at $35,000 after buying an additional 249 shares during the period. Finally, Assetmark Inc. raised its position in shares of Xylem by 3,887.5% during the third quarter. Assetmark Inc. now owns 319 shares of the industrial products company's stock worth $43,000 after acquiring an additional 311 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Xylem from $170.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. TD Cowen dropped their price target on shares of Xylem from $138.00 to $125.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of Xylem from $163.00 to $162.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. UBS Group initiated coverage on shares of Xylem in a research report on Tuesday, August 13th. They set a "buy" rating and a $165.00 target price for the company. Finally, Robert W. Baird reduced their price target on Xylem from $175.00 to $154.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $147.17.

Xylem Stock Down 0.2 %

XYL stock traded down $0.25 during mid-day trading on Tuesday, hitting $122.21. 1,717,425 shares of the company were exchanged, compared to its average volume of 1,210,908. The firm's 50 day simple moving average is $130.62 and its 200 day simple moving average is $134.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.96. Xylem Inc. has a 1-year low of $100.06 and a 1-year high of $146.08. The firm has a market cap of $29.69 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.24 and a beta of 1.05.

Xylem (NYSE:XYL - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.11 earnings per share 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 company's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, sell-side analysts predict that Xylem Inc. will post 4.23 EPS for the current fiscal year.

Xylem Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Xylem's dividend payout ratio is currently 42.11%.

Xylem Company 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.