HITE Hedge Asset Management LLC Invests $2.23 Million in Xylem Inc. (NYSE:XYL)

HITE Hedge Asset Management LLC bought a new stake in shares of Xylem Inc. (NYSE:XYL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 19,199 shares of the industrial products company’s stock, valued at approximately $2,227,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. purchased a new position in Xylem in the fourth quarter valued at about $30,000. Rialto Wealth Management LLC acquired a new stake in shares of Xylem in the fourth quarter valued at about $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Xylem during the 4th quarter valued at about $36,000. Pathway Financial Advisers LLC lifted its position in Xylem by 122.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 318 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 175 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in Xylem by 69.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 317 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 130 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Xylem from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. 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, Citigroup dropped their target price on Xylem from $152.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.33.

Xylem Stock Up 1.2 %

Shares of Xylem stock opened at $110.53 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $121.03 and a 200 day moving average price of $123.40. Xylem Inc. has a fifty-two week low of $100.47 and a fifty-two week high of $146.08. The firm has a market cap of $26.90 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.33 and a beta of 1.08.

Xylem (NYSE:XYL) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Xylem’s previous quarterly dividend of $0.36. The ex-dividend date was Tuesday, February 18th. Xylem’s dividend payout ratio is presently 43.72%.

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.