Truist Financial Corp Sells 2,269 Shares of Xylem Inc. (NYSE:XYL)

Truist Financial Corp trimmed its holdings in shares of Xylem Inc. (NYSE:XYL) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,284 shares of the industrial products company’s stock after selling 2,269 shares during the quarter. Truist Financial Corp’s holdings in Xylem were worth $11,974,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new position in shares of Xylem in the 2nd quarter valued at approximately $19,570,000. B. Riley Wealth Advisors Inc. grew its holdings in Xylem by 34.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 11,960 shares of the industrial products company’s stock valued at $1,622,000 after purchasing an additional 3,091 shares during the last quarter. Ecofi Investissements SA bought a new position in shares of Xylem in the second quarter valued at approximately $10,880,000. Quarry LP lifted its stake in shares of Xylem by 460.9% in the second quarter. Quarry LP now owns 746 shares of the industrial products company’s stock worth $101,000 after buying an additional 613 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Xylem by 4.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 80,720 shares of the industrial products company’s stock worth $10,948,000 after buying an additional 3,477 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Xylem Trading Up 0.3 %

Shares of XYL stock opened at $133.47 on Friday. The firm has a fifty day moving average of $132.87 and a 200-day moving average of $134.57. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 47.50, a P/E/G 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 company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.85.

Xylem (NYSE:XYL) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.14 billion. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, equities research analysts forecast that Xylem Inc. will post 4.26 earnings per share for the current fiscal year.

Xylem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, August 29th were issued 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 1.08%. Xylem’s payout ratio is presently 51.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on XYL. TD Cowen reissued a “hold” rating and set a $138.00 target price on shares of Xylem in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on Xylem from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on Xylem from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price objective on Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group started coverage on shares of Xylem in a research report on Tuesday, August 13th. They set a “buy” rating and a $165.00 target price on the stock. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Xylem has an average rating of “Moderate Buy” and a consensus price target of $149.67.

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.