Pictet Asset Management Holding SA Sells 1,106,911 Shares of Xylem Inc. (NYSE:XYL)

Pictet Asset Management Holding SA lessened its holdings in shares of Xylem Inc. (NYSE:XYL) by 17.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,355,809 shares of the industrial products company’s stock after selling 1,106,911 shares during the period. Xylem comprises approximately 0.7% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 25th biggest position. Pictet Asset Management Holding SA’s holdings in Xylem were worth $621,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its holdings in Xylem by 14.8% in the third quarter. Raymond James Trust N.A. now owns 2,200 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 284 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Xylem by 12.5% in the third quarter. Brown Brothers Harriman & Co. now owns 973 shares of the industrial products company’s stock worth $131,000 after buying an additional 108 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Xylem during the 3rd quarter worth about $55,000. BNP Paribas Financial Markets increased its holdings in shares of Xylem by 16.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 547,435 shares of the industrial products company’s stock valued at $73,920,000 after acquiring an additional 77,639 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of Xylem by 3.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,399 shares of the industrial products company’s stock valued at $2,484,000 after acquiring an additional 605 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Xylem Price Performance

Shares of Xylem stock opened at $122.19 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.33. The company has a market cap of $29.70 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08. The firm has a fifty day moving average price of $125.71 and a two-hundred day moving average price of $125.97. Xylem Inc. has a fifty-two week low of $113.26 and a fifty-two week high of $146.08.

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

Xylem Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, February 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Xylem’s previous quarterly dividend of $0.36. Xylem’s payout ratio is 43.72%.

Analysts Set New Price Targets

XYL has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Xylem from $166.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Robert W. Baird upped their price objective on shares of Xylem from $139.00 to $148.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wolfe Research reiterated a “peer perform” rating on shares of Xylem in a report on Thursday, December 12th. Finally, Citigroup cut shares of Xylem from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.89.

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.