State of Michigan Retirement System Has $7.65 Million Position in Xylem Inc. (NYSE:XYL)

State of Michigan Retirement System lowered its stake in shares of Xylem Inc. (NYSE:XYL) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,975 shares of the industrial products company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Xylem were worth $7,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of XYL. State Street Corp grew its stake in Xylem by 1.9% in the 3rd quarter. State Street Corp now owns 10,329,494 shares of the industrial products company’s stock valued at $1,394,792,000 after buying an additional 189,820 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Xylem by 1.0% in the third quarter. Geode Capital Management LLC now owns 5,668,755 shares of the industrial products company’s stock valued at $762,804,000 after purchasing an additional 54,877 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Xylem by 231.5% in the fourth quarter. Impax Asset Management Group plc now owns 5,561,661 shares of the industrial products company’s stock worth $644,039,000 after purchasing an additional 3,883,845 shares during the period. Swedbank AB lifted its position in shares of Xylem by 23.1% during the 4th quarter. Swedbank AB now owns 3,683,201 shares of the industrial products company’s stock worth $427,325,000 after purchasing an additional 691,618 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Xylem by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,449,307 shares of the industrial products company’s stock valued at $465,760,000 after purchasing an additional 32,645 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

XYL has been the subject of a number of research analyst reports. TD Cowen cut their price target on Xylem from $138.00 to $125.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Citigroup downgraded shares of Xylem from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Stifel Nicolaus dropped their price objective on shares of Xylem from $166.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Robert W. Baird upped their price objective on shares of Xylem from $139.00 to $148.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Xylem in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Xylem presently has a consensus rating of “Moderate Buy” and an average price target of $149.90.

Xylem Stock Up 1.9 %

NYSE XYL opened at $129.74 on Thursday. Xylem Inc. has a 1-year low of $113.26 and a 1-year high of $146.08. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 2.33 and a beta of 1.07. The stock’s 50 day moving average is $123.29 and its two-hundred day moving average is $127.10. The company has a current ratio of 1.76, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19.

Xylem (NYSE:XYL) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. Xylem had a return on equity of 9.96% and a net margin of 10.40%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Xylem’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, February 18th will be issued a $0.40 dividend. This is a positive change from Xylem’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.23%. Xylem’s dividend payout ratio is presently 43.72%.

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.