Xylem Inc. (NYSE:XYL)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a research report issued on Wednesday. They presently have a $65.00 price target on the industrial products company’s stock. Canaccord Genuity’s price target suggests a potential downside of 3.07% from the stock’s previous close.
XYL has been the subject of a number of other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $71.00 price target (up previously from $64.00) on shares of Xylem in a research note on Wednesday, October 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $63.00 price target on shares of Xylem in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. lifted their price target on shares of Xylem from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Xylem from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Thursday, October 5th. Finally, BMO Capital Markets lifted their price target on shares of Xylem from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $65.17.
Xylem (NYSE:XYL) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Xylem had a net margin of 6.85% and a return on equity of 17.74%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 33.2% on a year-over-year basis.
In related news, insider Kenneth Napolitano sold 9,052 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total value of $544,568.32. Following the completion of the sale, the insider now owns 35,303 shares in the company, valued at approximately $2,123,828.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wesbanco Bank Inc. purchased a new stake in Xylem in the 3rd quarter valued at $213,000. IndexIQ Advisors LLC raised its position in Xylem by 499.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 103,411 shares of the industrial products company’s stock valued at $6,477,000 after purchasing an additional 86,173 shares during the last quarter. Cambridge Trust Co. raised its position in Xylem by 7.5% in the 3rd quarter. Cambridge Trust Co. now owns 173,182 shares of the industrial products company’s stock valued at $10,847,000 after purchasing an additional 12,122 shares during the last quarter. Trillium Asset Management LLC raised its position in Xylem by 1.4% in the 3rd quarter. Trillium Asset Management LLC now owns 456,744 shares of the industrial products company’s stock valued at $28,606,000 after purchasing an additional 6,296 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Xylem in the 3rd quarter valued at $8,401,000. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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