Fred Alger Management LLC Sells 206 Shares of Xylem Inc. (NYSE:XYL)

Fred Alger Management LLC lessened its stake in shares of Xylem Inc. (NYSE:XYL) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,215 shares of the industrial products company’s stock after selling 206 shares during the period. Fred Alger Management LLC’s holdings in Xylem were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Xylem by 191.7% during the first quarter. Cetera Investment Advisers now owns 27,412 shares of the industrial products company’s stock valued at $3,543,000 after buying an additional 18,014 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Xylem by 138.5% in the first quarter. Cetera Advisors LLC now owns 4,770 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 2,770 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Xylem by 68.8% in the first quarter. EverSource Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 77 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in Xylem during the second quarter valued at $317,000. Finally, GAMMA Investing LLC raised its stake in Xylem by 84.1% during the second quarter. GAMMA Investing LLC now owns 2,798 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 1,278 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Xylem Stock Up 0.9 %

Xylem stock opened at $126.75 on Monday. Xylem Inc. has a 1-year low of $102.67 and a 1-year high of $146.08. The business has a fifty day moving average price of $129.37 and a 200-day moving average price of $133.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.96 and a quick ratio of 1.42. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.33 and a beta of 1.05.

Xylem (NYSE:XYL) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. Xylem had a return on equity of 9.61% and a net margin of 9.85%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Xylem Inc. will post 4.23 EPS for the current fiscal year.

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Xylem’s payout ratio is 42.11%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group assumed coverage on Xylem in a research report on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price target for the company. Robert W. Baird lowered their price target on Xylem from $175.00 to $154.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen dropped their price objective on shares of Xylem from $138.00 to $125.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Xylem presently has a consensus rating of “Moderate Buy” and an average target price of $149.64.

About Xylem

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.