Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Xylem Inc. (NYSE:XYL)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Xylem Inc. (NYSE:XYL) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,638 shares of the industrial products company’s stock after buying an additional 3,751 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Xylem were worth $3,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Middleton & Co. Inc. MA boosted its holdings in Xylem by 0.9% in the third quarter. Middleton & Co. Inc. MA now owns 75,964 shares of the industrial products company’s stock worth $10,257,000 after purchasing an additional 670 shares during the last quarter. Allworth Financial LP raised its position in Xylem by 55.2% in the third quarter. Allworth Financial LP now owns 1,142 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 406 shares during the period. Ballentine Partners LLC raised its position in Xylem by 32.4% in the third quarter. Ballentine Partners LLC now owns 8,518 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 2,086 shares during the period. Garrison Point Advisors LLC raised its position in Xylem by 2.9% in the third quarter. Garrison Point Advisors LLC now owns 5,450 shares of the industrial products company’s stock worth $736,000 after acquiring an additional 155 shares during the period. Finally, Nicholson Wealth Management Group LLC bought a new position in Xylem in the third quarter worth approximately $656,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on XYL. UBS Group began coverage on shares of Xylem in a research report on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price target on the stock. TD Cowen reiterated a “hold” rating and issued a $138.00 price target on shares of Xylem in a research report on Tuesday, September 3rd. Robert W. Baird increased their price target on shares of Xylem from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on shares of Xylem from $160.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Xylem presently has an average rating of “Moderate Buy” and an average target price of $149.67.

Xylem Stock Performance

Shares of NYSE XYL opened at $129.93 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.85. The company has a market cap of $31.56 billion, a P/E ratio of 41.12, a P/E/G ratio of 2.30 and a beta of 1.04. The firm’s fifty day moving average is $133.52 and its two-hundred day moving average is $135.31. Xylem Inc. has a 52-week low of $87.59 and a 52-week high of $146.08.

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

Xylem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, August 29th were issued a $0.36 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.11%. Xylem’s dividend payout ratio is currently 45.57%.

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.