Meyer Handelman Co. Has $2.78 Million Stock Position in Xylem Inc. (NYSE:XYL)

Meyer Handelman Co. trimmed its position in Xylem Inc. (NYSE:XYL) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,611 shares of the industrial products company’s stock after selling 360 shares during the quarter. Meyer Handelman Co.’s holdings in Xylem were worth $2,783,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Xylem during the first quarter valued at about $311,684,000. Sei Investments Co. boosted its stake in Xylem by 56.4% during the 1st quarter. Sei Investments Co. now owns 1,013,314 shares of the industrial products company’s stock valued at $130,961,000 after purchasing an additional 365,420 shares during the last quarter. Wellington Management Group LLP boosted its stake in Xylem by 40.6% during the 4th quarter. Wellington Management Group LLP now owns 1,255,528 shares of the industrial products company’s stock valued at $143,582,000 after purchasing an additional 362,840 shares during the last quarter. LPL Financial LLC raised its stake in shares of Xylem by 246.6% in the second quarter. LPL Financial LLC now owns 324,504 shares of the industrial products company’s stock worth $44,012,000 after purchasing an additional 230,878 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Xylem in the first quarter valued at approximately $29,234,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Xylem Price Performance

NYSE XYL opened at $136.86 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a market cap of $33.18 billion, a PE ratio of 48.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.04. Xylem Inc. has a 52 week low of $87.59 and a 52 week high of $146.08. The firm’s 50-day simple moving average is $132.80 and its two-hundred day simple moving average is $134.87.

Xylem (NYSE:XYL) last released its quarterly earnings data 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. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm earned $0.98 EPS. Xylem’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts predict that Xylem Inc. will post 4.26 earnings per share for the current year.

Xylem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. Xylem’s payout ratio is 51.25%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Xylem from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen reiterated a “hold” rating and issued a $138.00 target price on shares of Xylem in a report on Tuesday, September 3rd. UBS Group assumed coverage on shares of Xylem in a report on Tuesday, August 13th. They set a “buy” rating and a $165.00 price target on the stock. Royal Bank of Canada lifted their target price on shares of Xylem from $160.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus upped their target price on Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and nine have given 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 $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.