Meyer Handelman Co. Cuts Stock Position in Xylem Inc. (NYSE:XYL)

Meyer Handelman Co. cut its holdings in shares of Xylem Inc. (NYSE:XYL) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,046 shares of the industrial products company’s stock after selling 3,720 shares during the period. Meyer Handelman Co.’s holdings in Xylem were worth $2,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of XYL. Marcum Wealth LLC purchased a new stake in shares of Xylem during the first quarter worth approximately $225,000. Park Avenue Securities LLC increased its stake in shares of Xylem by 8.0% during the first quarter. Park Avenue Securities LLC now owns 3,114 shares of the industrial products company’s stock worth $402,000 after buying an additional 231 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Xylem by 3.7% during the first quarter. Banque Cantonale Vaudoise now owns 37,857 shares of the industrial products company’s stock worth $4,893,000 after buying an additional 1,351 shares during the period. Czech National Bank increased its stake in shares of Xylem by 0.5% during the first quarter. Czech National Bank now owns 42,417 shares of the industrial products company’s stock worth $5,482,000 after buying an additional 194 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of Xylem during the first quarter worth approximately $145,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on XYL shares. Royal Bank of Canada upped their target price on shares of Xylem from $157.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Citigroup upped their price target on Xylem from $126.00 to $139.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their price target on Xylem from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Mizuho upped their price target on Xylem from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Argus upped their price target on Xylem from $146.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.92.

Xylem Price Performance

XYL stock opened at $138.67 on Friday. The company has a market capitalization of $33.62 billion, a P/E ratio of 49.35, a PEG ratio of 2.46 and a beta of 1.07. Xylem Inc. has a twelve month low of $87.59 and a twelve month high of $146.08. The business has a 50 day simple moving average of $137.79 and a 200-day simple moving average of $125.96. The company has a current ratio of 1.67, a quick ratio of 1.22 and a debt-to-equity ratio of 0.19.

Xylem (NYSE:XYL) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.06. Xylem had a return on equity of 8.95% and a net margin of 8.34%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s revenue was up 40.4% compared to the same quarter last year. As a group, equities analysts anticipate that Xylem Inc. will post 4.25 EPS for the current year.

Xylem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 30th. Xylem’s dividend payout ratio is presently 51.25%.

Insider Buying and Selling

In related news, CAO Geri-Michelle Mcshane sold 2,278 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $138.63, for a total transaction of $315,799.14. Following the completion of the sale, the chief accounting officer now directly owns 3,536 shares of the company’s stock, valued at $490,195.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Rodney Aulick sold 21,800 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $139.01, for a total transaction of $3,030,418.00. Following the completion of the sale, the senior vice president now directly owns 76,287 shares of the company’s stock, valued at $10,604,655.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Geri-Michelle Mcshane sold 2,278 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $138.63, for a total value of $315,799.14. Following the sale, the chief accounting officer now directly owns 3,536 shares of the company’s stock, valued at $490,195.68. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Xylem 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.