Xylem (NYSE:XYL) Cut to “Hold” at Argus

Argus cut shares of Xylem (NYSE:XYL) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their target price on Xylem from $160.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Citigroup decreased their price target on Xylem from $148.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. BNP Paribas Exane lowered their price objective on shares of Xylem from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Robert W. Baird set a $123.00 price objective on shares of Xylem in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. downgraded shares of Xylem from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $118.00 to $90.00 in a research report on Wednesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.31.

Xylem Stock Performance

Shares of NYSE XYL traded down $2.17 during midday trading on Wednesday, reaching $97.88. 2,396,508 shares of the company were exchanged, compared to its average volume of 3,305,102. The stock has a market cap of $22.45 billion, a P/E ratio of 21.65, a PEG ratio of 1.62 and a beta of 1.01. Xylem has a 1 year low of $87.40 and a 1 year high of $152.15. The stock has a fifty day simple moving average of $103.56 and a 200 day simple moving average of $116.48. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.01). Xylem had a net margin of 11.94% and a return on equity of 12.06%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. On average, research analysts forecast that Xylem will post 5.45 earnings per share for the current fiscal year.

Xylem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, August 27th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, August 27th. This represents a $1.72 annualized dividend and a yield of 1.8%. Xylem’s payout ratio is presently 38.05%.

Insider Activity

In other Xylem news, Director D Koch bought 11,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was acquired at an average cost of $89.60 per share, with a total value of $985,600.00. Following the purchase, the director owned 12,247 shares in the company, valued at approximately $1,097,331.20. This represents a 882.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co lifted its holdings in Xylem by 27.5% in the third quarter. Diversified Trust Co now owns 13,972 shares of the industrial products company’s stock valued at $1,415,000 after acquiring an additional 3,015 shares during the period. EagleClaw Capital Managment LLC grew its stake in shares of Xylem by 22.3% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 60,490 shares of the industrial products company’s stock worth $6,126,000 after purchasing an additional 11,035 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Xylem by 17.2% in the 3rd quarter. Moors & Cabot Inc. now owns 14,976 shares of the industrial products company’s stock valued at $1,517,000 after purchasing an additional 2,200 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Xylem by 22.4% in the 3rd quarter. Allworth Financial LP now owns 4,283 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 785 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. increased its holdings in shares of Xylem by 14.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 372,933 shares of the industrial products company’s stock valued at $37,762,000 after purchasing an additional 47,674 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Xylem

Xylem Inc is a water technology company that develops equipment, software and services for managing water and wastewater. Its offerings include pumps and treatment systems, water-quality testing and analysis, smart meters, monitoring and control technologies, and services for detecting leaks and maintaining water infrastructure.

The company serves water and wastewater utilities, industrial and commercial customers, and residential markets. Its technologies support the movement, treatment, testing and efficient use of water across municipal and industrial systems.

Xylem was established in 2011 when it became an independent company following its spin-off from ITT Corporation.