Mirae Asset Global Investments Co. Ltd. Purchases New Shares in Xylem Inc. $XYL

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Xylem Inc. (NYSE:XYL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,198 shares of the industrial products company’s stock, valued at approximately $6,299,000.

Several other large investors also recently made changes to their positions in XYL. SFE Investment Counsel raised its stake in shares of Xylem by 9.7% in the 3rd quarter. SFE Investment Counsel now owns 53,592 shares of the industrial products company’s stock valued at $5,427,000 after purchasing an additional 4,755 shares during the period. MGO One Seven LLC boosted its position in shares of Xylem by 48.1% during the third quarter. MGO One Seven LLC now owns 2,706 shares of the industrial products company’s stock worth $274,000 after buying an additional 879 shares during the period. Aprio Wealth Management LLC boosted its position in shares of Xylem by 6.2% during the third quarter. Aprio Wealth Management LLC now owns 2,114 shares of the industrial products company’s stock worth $214,000 after buying an additional 123 shares during the period. Renaissance Investment Group LLC boosted its position in shares of Xylem by 5.8% during the third quarter. Renaissance Investment Group LLC now owns 88,230 shares of the industrial products company’s stock worth $8,935,000 after buying an additional 4,823 shares during the period. Finally, Soltis Investment Advisors LLC bought a new position in shares of Xylem during the third quarter worth about $6,895,000. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada dropped their target price on Xylem from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Mizuho set a $99.00 price target on Xylem in a research report on Wednesday, October 28th. Robert W. Baird set a $123.00 price target on Xylem in a research report on Wednesday, October 28th. Zacks Research cut shares of Xylem from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of Xylem from $160.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Xylem currently has a consensus rating of “Hold” and a consensus price target of $121.31.

Insider Activity

In related news, Director D Koch acquired 11,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was bought at an average price of $89.60 per share, with a total value of $985,600.00. Following the acquisition, the director owned 12,247 shares in the company, valued at $1,097,331.20. This represents a 882.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Xylem Price Performance

Shares of NYSE XYL opened at $100.03 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 1.02. The business has a 50-day moving average of $103.85 and a 200-day moving average of $116.68. The stock has a market capitalization of $22.94 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.69 and a beta of 1.01. Xylem Inc. has a fifty-two week low of $87.40 and a fifty-two week high of $152.43.

Xylem (NYSE:XYL) last released its earnings results on Tuesday, October 27th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.01). Xylem had a return on equity of 12.06% and a net margin of 11.94%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $1.37 EPS. The business’s revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Xylem Inc. will post 5.45 earnings per share for the current fiscal year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, August 27th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, August 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.7%. Xylem’s dividend payout ratio is currently 38.05%.

Xylem Company Profile

Xylem Inc (NYSE: XYL) is a global water technology company that develops products and services for the transportation, treatment, testing and efficient use of water and wastewater. Its offerings support municipal water and wastewater utilities, industrial customers, commercial facilities and residential applications.

The company’s products and solutions include water and wastewater pumps, treatment systems, dewatering equipment, smart meters, monitoring and control technologies, leak detection tools, and data-driven analytics.