Summit Financial LLC Makes New $675,000 Investment in Xylem Inc. (NYSE:XYL)

Summit Financial LLC acquired a new stake in Xylem Inc. (NYSE:XYL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,820 shares of the industrial products company’s stock, valued at approximately $675,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AIA Group Ltd lifted its stake in shares of Xylem by 7.5% during the 4th quarter. AIA Group Ltd now owns 2,017 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 140 shares during the period. Martin Currie Ltd. increased its stake in Xylem by 54.6% in the fourth quarter. Martin Currie Ltd. now owns 11,120 shares of the industrial products company’s stock valued at $1,290,000 after purchasing an additional 3,927 shares during the last quarter. Portland Global Advisors LLC lifted its position in Xylem by 0.9% during the fourth quarter. Portland Global Advisors LLC now owns 44,979 shares of the industrial products company’s stock worth $5,218,000 after buying an additional 421 shares during the period. Schroder Investment Management Group boosted its stake in Xylem by 0.9% in the 4th quarter. Schroder Investment Management Group now owns 28,661 shares of the industrial products company’s stock worth $3,333,000 after buying an additional 259 shares during the last quarter. Finally, Allianz SE purchased a new stake in Xylem in the 4th quarter valued at about $1,910,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Xylem Trading Down 0.7 %

Shares of XYL opened at $119.07 on Thursday. Xylem Inc. has a 12 month low of $113.26 and a 12 month high of $146.08. The stock’s 50-day moving average is $125.59 and its two-hundred day moving average is $125.65. 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 stock has a market cap of $28.94 billion, a PE ratio of 32.53, a P/E/G ratio of 2.33 and a beta of 1.08.

Xylem (NYSE:XYL) last released its quarterly 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 firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Xylem had a return on equity of 9.96% and a net margin of 10.40%. Xylem’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Equities analysts forecast that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on XYL shares. Citigroup lowered shares of Xylem from a “strong-buy” rating to a “hold” 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. Robert W. Baird upped their price objective on Xylem from $139.00 to $148.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their target price on Xylem from $166.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Xylem has a consensus rating of “Moderate Buy” and a consensus 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.