Argent Trust Co Increases Stock Holdings in Xylem Inc. (NYSE:XYL)

Argent Trust Co boosted its position in shares of Xylem Inc. (NYSE:XYL) by 108.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,054 shares of the industrial products company’s stock after acquiring an additional 4,195 shares during the period. Argent Trust Co’s holdings in Xylem were worth $1,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of Xylem by 68.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 77 shares in the last quarter. Blue Trust Inc. boosted its stake in Xylem by 1,185.7% during the second 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. FinTrust Capital Advisors LLC grew its position in Xylem by 170.9% during the first quarter. FinTrust Capital Advisors LLC now owns 317 shares of the industrial products company’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in Xylem by 184.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 339 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 220 shares during the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Xylem in the 2nd quarter valued at about $47,000. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

XYL has been the topic of several research analyst reports. Robert W. Baird upped their price objective on shares of Xylem from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. UBS Group began coverage on shares of Xylem in a research report on Tuesday, August 13th. They issued a “buy” rating and a $165.00 target price for the company. TD Cowen restated a “hold” rating and set a $138.00 price target on shares of Xylem in a research report on Tuesday, September 3rd. Finally, Argus lifted their price target on Xylem from $146.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Xylem presently has an average rating of “Moderate Buy” and an average price target of $147.54.

Xylem Price Performance

Shares of Xylem stock opened at $136.29 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.33. Xylem Inc. has a one year low of $87.59 and a one year high of $146.08. The business’s 50 day simple moving average is $133.78 and its two-hundred day simple moving average is $134.07. The stock has a market capitalization of $33.10 billion, a P/E ratio of 48.50, a price-to-earnings-growth ratio of 2.34 and a beta of 1.04.

Xylem (NYSE:XYL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.14 billion. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. Analysts forecast that Xylem Inc. will post 4.26 EPS for the current year.

Xylem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. Xylem’s dividend payout ratio is currently 51.25%.

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.