Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Xylem Inc. (NYSE:XYL)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Xylem Inc. (NYSE:XYL) by 18.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,638 shares of the industrial products company’s stock after buying an additional 3,751 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Xylem were worth $3,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in XYL. Azzad Asset Management Inc. ADV grew its stake in shares of Xylem by 1.6% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 19,348 shares of the industrial products company’s stock worth $2,500,000 after buying an additional 313 shares in the last quarter. Norden Group LLC purchased a new position in shares of Xylem in the 1st quarter worth $2,821,000. First Trust Direct Indexing L.P. boosted its stake in shares of Xylem by 6.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 7,912 shares of the industrial products company’s stock worth $1,023,000 after purchasing an additional 469 shares during the period. American National Bank & Trust Co. VA purchased a new position in shares of Xylem during the 1st quarter worth about $3,447,000. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Xylem by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 18,608 shares of the industrial products company’s stock worth $2,325,000 after purchasing an additional 503 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Xylem Trading Down 0.7 %

NYSE:XYL opened at $129.93 on Wednesday. Xylem Inc. has a one year low of $87.59 and a one year high of $146.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.85. The firm has a market cap of $31.56 billion, a P/E ratio of 41.12, a P/E/G ratio of 2.30 and a beta of 1.04. The firm has a 50-day simple moving average of $133.52 and a 200-day simple moving average of $135.31.

Xylem (NYSE:XYL) last posted its quarterly 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. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts anticipate that Xylem Inc. will post 4.26 EPS for the current fiscal year.

Xylem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend yield of 1.11%. Xylem’s dividend payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. TD Cowen reaffirmed a “hold” rating and set a $138.00 price target on shares of Xylem in a research note on Tuesday, September 3rd. UBS Group assumed coverage on shares of Xylem in a research note on Tuesday, August 13th. They set a “buy” rating and a $165.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of Xylem from $160.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their price target on shares of Xylem from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.67.

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.