Allstate Corp Buys New Position in Xylem Inc. (NYSE:XYL)

Allstate Corp purchased a new stake in Xylem Inc. (NYSE:XYL) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,209 shares of the industrial products company’s stock, valued at approximately $836,000.

A number of other hedge funds have also added to or reduced their stakes in XYL. Lee Danner & Bass Inc. bought a new stake in shares of Xylem during the 4th quarter valued at about $30,000. Rialto Wealth Management LLC purchased a new stake in Xylem in the fourth quarter worth about $31,000. Heck Capital Advisors LLC bought a new stake in Xylem during the 4th quarter valued at approximately $36,000. Pathway Financial Advisers LLC grew its holdings in shares of Xylem by 122.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 318 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 175 shares during the period. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Xylem by 69.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 317 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 130 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on XYL. Citigroup cut Xylem from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wolfe Research reiterated a “peer perform” rating on shares of Xylem in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price objective on shares of Xylem from $166.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird raised their target price on shares of Xylem from $139.00 to $148.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.89.

Xylem Price Performance

Shares of XYL opened at $119.51 on Tuesday. Xylem Inc. has a twelve month low of $113.26 and a twelve month high of $146.08. The company has a market capitalization of $29.05 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08. The firm has a 50 day moving average of $125.69 and a 200 day moving average of $125.77. The company has a quick ratio of 1.33, a current ratio of 1.76 and a debt-to-equity ratio of 0.19.

Xylem (NYSE:XYL) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.18 billion. Xylem had a return on equity of 9.96% and a net margin of 10.40%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. As a group, equities research analysts anticipate that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.34%. This is a boost from Xylem’s previous quarterly dividend of $0.36. Xylem’s dividend payout ratio is currently 43.72%.

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.