Mirae Asset Global Investments Co. Ltd. Increases Holdings in Xylem Inc. $XYL

Mirae Asset Global Investments Co. Ltd. raised its stake in Xylem Inc. (NYSE:XYL) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,945 shares of the industrial products company’s stock after buying an additional 3,851 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Xylem were worth $5,892,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. grew its stake in shares of Xylem by 1,844.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 175 shares of the industrial products company’s stock valued at $26,000 after buying an additional 166 shares during the period. First Horizon Corp purchased a new position in Xylem in the third quarter worth approximately $30,000. Grey Fox Wealth Advisors LLC acquired a new stake in Xylem during the third quarter worth $34,000. Caldwell Trust Co purchased a new stake in Xylem in the second quarter valued at $41,000. Finally, FWL Investment Management LLC acquired a new position in shares of Xylem in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other Xylem news, Director Victoria D. Harker sold 1,700 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $148.14, for a total value of $251,838.00. Following the sale, the director owned 16,875 shares of the company’s stock, valued at $2,499,862.50. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on XYL shares. William Blair assumed coverage on shares of Xylem in a report on Monday, January 26th. They issued an “outperform” rating on the stock. Barclays reduced their price target on shares of Xylem from $172.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Zacks Research lowered shares of Xylem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Robert W. Baird set a $178.00 target price on shares of Xylem in a report on Wednesday, October 29th. Finally, TD Cowen restated a “hold” rating on shares of Xylem in a research note on Friday, December 5th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.80.

Xylem Price Performance

Shares of XYL opened at $137.89 on Monday. The company has a market cap of $33.57 billion, a P/E ratio of 35.45, a PEG ratio of 1.96 and a beta of 1.17. Xylem Inc. has a fifty-two week low of $100.47 and a fifty-two week high of $154.27. The company has a quick ratio of 1.50, a current ratio of 1.96 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average price is $139.60 and its 200 day moving average price is $141.90.

Xylem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, November 25th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, November 25th. Xylem’s payout ratio is presently 41.13%.

Xylem Company Profile

Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.

The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.