Baird Financial Group Inc. Has $26.93 Million Position in Xylem Inc. (NYSE:XYL)

Posted by Defense World Staff on Mar 15th, 2023

Baird Financial Group Inc. lowered its stake in shares of Xylem Inc. (NYSE:XYL – Get Rating) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,261 shares of the industrial products company’s stock after selling 9,528 shares during the period. Baird Financial Group Inc. owned about 0.17% of Xylem worth $26,929,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Xylem by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 20,814,960 shares of the industrial products company’s stock worth $1,818,395,000 after acquiring an additional 209,454 shares during the period. BlackRock Inc. raised its holdings in Xylem by 1.4% in the 3rd quarter. BlackRock Inc. now owns 18,680,184 shares of the industrial products company’s stock worth $1,631,902,000 after acquiring an additional 262,913 shares during the period. Invesco Ltd. raised its holdings in Xylem by 53.6% in the 1st quarter. Invesco Ltd. now owns 3,828,177 shares of the industrial products company’s stock worth $326,390,000 after acquiring an additional 1,335,241 shares during the period. Baillie Gifford & Co. raised its holdings in Xylem by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 2,964,784 shares of the industrial products company’s stock worth $259,003,000 after acquiring an additional 44,430 shares during the period. Finally, First Trust Advisors LP raised its holdings in Xylem by 399.3% in the 1st quarter. First Trust Advisors LP now owns 2,951,349 shares of the industrial products company’s stock worth $251,632,000 after acquiring an additional 2,360,214 shares during the period. Institutional investors and hedge funds own 83.57% of the company’s stock.

Insider Buying and Selling at Xylem

In other Xylem news, SVP Hayati Yarkadas sold 15,942 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were 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 directly owns 12,146 shares in the company, valued at $1,219,822.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on XYL. Atlantic Securities upgraded shares of Xylem from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $129.00 in a report on Wednesday, November 16th. Cowen boosted their price objective on shares of Xylem from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, February 14th. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of Xylem in a report on Wednesday, February 8th. Stifel Nicolaus upgraded shares of Xylem from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $124.00 in a report on Tuesday, January 24th. Finally, Morgan Stanley boosted their price objective on shares of Xylem from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Xylem currently has an average rating of “Hold” and a consensus target price of $114.80.

Xylem Price Performance

Shares of Xylem stock opened at $99.90 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.89. The firm’s 50-day simple moving average is $106.27 and its 200-day simple moving average is $103.21. Xylem Inc. has a twelve month low of $72.08 and a twelve month high of $118.58. The firm has a market cap of $18.01 billion, a P/E ratio of 50.97, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07.

Xylem (NYSE:XYL – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The industrial products company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 6.43% and a return on equity of 15.72%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, research analysts expect that Xylem Inc. will post 3.2 EPS for the current fiscal year.

Xylem Increases Dividend

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

Xylem 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.