Fred Alger Management LLC Sells 206 Shares of Xylem Inc. (NYSE:XYL)

Fred Alger Management LLC cut its holdings in Xylem Inc. (NYSE:XYL) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the industrial products company’s stock after selling 206 shares during the quarter. Fred Alger Management LLC’s holdings in Xylem were worth $569,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in shares of Xylem by 191.7% during the first quarter. Cetera Investment Advisers now owns 27,412 shares of the industrial products company’s stock valued at $3,543,000 after buying an additional 18,014 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Xylem by 138.5% during the 1st quarter. Cetera Advisors LLC now owns 4,770 shares of the industrial products company’s stock valued at $616,000 after acquiring an additional 2,770 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Xylem by 68.8% in the first quarter. EverSource Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 77 shares during the period. Transcend Capital Advisors LLC purchased a new position in shares of Xylem during the second quarter valued at approximately $317,000. Finally, GAMMA Investing LLC lifted its position in Xylem by 84.1% during the second quarter. GAMMA Investing LLC now owns 2,798 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 1,278 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Xylem Stock Up 0.9 %

XYL stock opened at $126.75 on Monday. The business’s 50-day moving average price is $129.37 and its 200-day moving average price is $133.72. The stock has a market cap of $30.79 billion, a P/E ratio of 37.06, a PEG ratio of 2.33 and a beta of 1.05. Xylem Inc. has a twelve month low of $102.67 and a twelve month high of $146.08. The company has a quick ratio of 1.42, a current ratio of 1.96 and a debt-to-equity ratio of 0.19.

Xylem (NYSE:XYL) last posted its quarterly 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 business 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 was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities research analysts forecast that Xylem Inc. will post 4.23 EPS for the current year.

Xylem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, November 26th will be given a $0.36 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. Xylem’s payout ratio is 42.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird cut their target price on shares of Xylem from $175.00 to $154.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reduced their price objective on Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. TD Cowen dropped their target price on Xylem from $138.00 to $125.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group started coverage on shares of Xylem in a research report on Tuesday, August 13th. They set a “buy” rating and a $165.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Xylem presently has an average rating of “Moderate Buy” and a consensus target price of $149.64.

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.