Camden National Bank lowered its stake in Xylem Inc (NYSE:XYL) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,499 shares of the industrial products company’s stock after selling 2,058 shares during the period. Xylem accounts for 2.2% of Camden National Bank’s portfolio, making the stock its 16th largest position. Camden National Bank owned 0.07% of Xylem worth $10,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of XYL. Meridian Wealth Management LLC bought a new position in Xylem in the first quarter valued at approximately $30,000. FinTrust Capital Advisors LLC boosted its stake in Xylem by 1,530.4% in the second quarter. FinTrust Capital Advisors LLC now owns 375 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 352 shares during the last quarter. Private Ocean LLC bought a new position in Xylem in the second quarter valued at approximately $33,000. BSW Wealth Partners bought a new position in Xylem in the first quarter valued at approximately $45,000. Finally, Doyle Wealth Management bought a new position in Xylem in the second quarter valued at approximately $46,000. 84.49% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Xylem from a “sell” rating to a “hold” rating and set a $83.00 price objective on the stock in a research note on Saturday, September 14th. ValuEngine cut shares of Xylem from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Credit Suisse Group cut shares of Xylem from an “outperform” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Xylem in a research note on Friday, September 20th. They issued a “buy” rating and a $90.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.00.
In related news, insider Kenneth Napolitano sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $75.23, for a total value of $376,150.00. Following the sale, the insider now directly owns 46,228 shares of the company’s stock, valued at approximately $3,477,732.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Colin R. Sabol sold 4,099 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $78.37, for a total transaction of $321,238.63. Following the completion of the sale, the senior vice president now directly owns 33,518 shares in the company, valued at $2,626,805.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,099 shares of company stock worth $1,464,339. Insiders own 0.85% of the company’s stock.
Shares of NYSE XYL traded up $2.18 during midday trading on Friday, reaching $77.61. 77,948 shares of the stock were exchanged, compared to its average volume of 782,832. The business has a 50-day simple moving average of $76.89 and a two-hundred day simple moving average of $78.95. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 1.41 and a beta of 1.19. Xylem Inc has a 12 month low of $60.65 and a 12 month high of $85.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.47 and a quick ratio of 1.08.
Xylem (NYSE:XYL) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Xylem had a net margin of 10.90% and a return on equity of 19.23%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. Equities research analysts expect that Xylem Inc will post 3.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.24%. Xylem’s dividend payout ratio is 33.33%.
Xylem Inc engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications. It operates in three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. The Water Infrastructure segment offers various products, including water and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment under the Flygt, Godwin, Wedeco, Sanitaire, and Leopold names for the transportation and treatment of water.
See Also: Retained Earnings
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