Smith Group Asset Management LLC Buys Shares of 6,000 Xylem Inc. (NYSE:XYL)

Smith Group Asset Management LLC acquired a new stake in Xylem Inc. (NYSE:XYL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,000 shares of the industrial products company’s stock, valued at approximately $696,000.

A number of other hedge funds have also made changes to their positions in XYL. Public Sector Pension Investment Board lifted its position in shares of Xylem by 77.3% in the second quarter. Public Sector Pension Investment Board now owns 9,410 shares of the industrial products company’s stock valued at $1,276,000 after acquiring an additional 4,103 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Xylem by 38.2% in the 2nd quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company’s stock worth $3,918,000 after purchasing an additional 7,981 shares during the period. The Manufacturers Life Insurance Company lifted its position in Xylem by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 153,978 shares of the industrial products company’s stock valued at $20,885,000 after buying an additional 844 shares in the last quarter. Algert Global LLC purchased a new stake in Xylem during the 2nd quarter worth $475,000. Finally, Creative Planning boosted its position in shares of Xylem by 3.6% in the second quarter. Creative Planning now owns 25,979 shares of the industrial products company’s stock worth $3,524,000 after buying an additional 904 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Xylem Stock Performance

Shares of NYSE XYL opened at $121.45 on Wednesday. The stock’s fifty day simple moving average is $120.85 and its 200 day simple moving average is $128.09. The company has a quick ratio of 1.42, a current ratio of 1.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $29.51 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.05 and a beta of 1.06. Xylem Inc. has a 52-week low of $111.88 and a 52-week high of $146.08.

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

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, November 26th. Xylem’s dividend payout ratio is currently 42.11%.

Wall Street Analyst Weigh In

XYL has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of Xylem from $148.00 to $147.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research reissued a “peer perform” rating on shares of Xylem in a research report on Thursday, December 12th. Royal Bank of Canada decreased their target price on 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 reduced their price target 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. Finally, Robert W. Baird decreased their price target on Xylem from $175.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.50.

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.