Renaissance Investment Group LLC Has $7.44 Million Stake in Xylem Inc. (NYSE:XYL)

Renaissance Investment Group LLC raised its holdings in Xylem Inc. (NYSE:XYL – Get Rating) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 67,319 shares of the industrial products company’s stock after acquiring an additional 4,047 shares during the period. Xylem accounts for about 2.2% of Renaissance Investment Group LLC’s portfolio, making the stock its 19th biggest position. Renaissance Investment Group LLC’s holdings in Xylem were worth $7,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continental Investors Services Inc. bought a new stake in shares of Xylem in the third quarter valued at about $9,912,000. Sentry Investment Management LLC lifted its holdings in shares of Xylem by 38.3% in the third quarter. Sentry Investment Management LLC now owns 1,771 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 490 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Xylem by 1.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,337 shares of the industrial products company’s stock valued at $1,078,000 after purchasing an additional 212 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Xylem by 4.5% in the third quarter. Envestnet Asset Management Inc. now owns 197,454 shares of the industrial products company’s stock valued at $17,250,000 after purchasing an additional 8,566 shares in the last quarter. Finally, Brinker Capital Investments LLC lifted its holdings in shares of Xylem by 15.8% in the third quarter. Brinker Capital Investments LLC now owns 17,447 shares of the industrial products company’s stock valued at $1,524,000 after purchasing an additional 2,377 shares in the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XYL has been the topic of a number of research reports. Morgan Stanley boosted their price target on Xylem from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Cowen upped their target price on Xylem from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, February 14th. Raymond James lowered Xylem from a “market perform” rating to an “underperform” rating in a report on Wednesday, January 4th. Mizuho reiterated a “neutral” rating and set a $105.00 target price on shares of Xylem in a report on Wednesday, February 8th. Finally, Stifel Nicolaus upgraded Xylem from a “hold” rating to a “buy” rating and upped their target price for the stock from $115.00 to $124.00 in a report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $114.80.

Insider Activity

In other news, SVP Hayati Yarkadas sold 15,942 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $100.43, for a total value of $1,601,055.06. Following the transaction, the senior vice president now owns 12,146 shares of the company’s stock, valued at $1,219,822.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Hayati Yarkadas sold 15,942 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $100.43, for a total value of $1,601,055.06. Following the transaction, the senior vice president now owns 12,146 shares of the company’s stock, valued at $1,219,822.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Decker sold 56,298 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $98.19, for a total value of $5,527,900.62. Following the sale, the chief executive officer now directly owns 287,564 shares in the company, valued at approximately $28,235,909.16. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Xylem Price Performance

NYSE:XYL opened at $94.73 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.89 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $105.23 and its two-hundred day moving average price is $103.19. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 48.33, a P/E/G ratio of 2.53 and a beta of 1.07. Xylem Inc. has a 12-month low of $72.08 and a 12-month high of $118.58.

Xylem (NYSE:XYL – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.41 billion. Xylem had a return on equity of 15.72% and a net margin of 6.43%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts anticipate that Xylem Inc. will post 3.2 earnings per share for the current year.

Xylem Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, February 22nd will be given a $0.33 dividend. This is an increase from Xylem’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 21st. This represents a $1.32 annualized dividend and a dividend yield of 1.39%. Xylem’s dividend payout ratio is presently 67.35%.

Xylem Company Profile

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Xylem, Inc engages in the design, manufacture, and application of engineered technologies for the water industry. It operates through the following business segments: Water Infrastructure, Applied Water, and Measurement and Control Solutions. The Water Infrastructure segment focuses on the transportation, treatment and testing of water.