American Century Companies Inc. Reduces Holdings in Xylem Inc. (NYSE:XYL)

Posted by Defense World Staff on Aug 30th, 2023

American Century Companies Inc. trimmed its stake in shares of Xylem Inc. (NYSE:XYL – Free Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 272,210 shares of the industrial products company’s stock after selling 4,535 shares during the quarter. American Century Companies Inc. owned 0.15% of Xylem worth $28,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XYL. Panagora Asset Management Inc. raised its stake in shares of Xylem by 21.7% during the 1st quarter. Panagora Asset Management Inc. now owns 14,297 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 2,550 shares during the period. Yousif Capital Management LLC raised its stake in shares of Xylem by 1.5% during the 1st quarter. Yousif Capital Management LLC now owns 27,307 shares of the industrial products company’s stock valued at $2,328,000 after purchasing an additional 416 shares during the period. Blair William & Co. IL raised its stake in shares of Xylem by 0.5% during the 1st quarter. Blair William & Co. IL now owns 66,243 shares of the industrial products company’s stock valued at $5,648,000 after purchasing an additional 299 shares during the period. Sei Investments Co. raised its stake in shares of Xylem by 6.7% during the 1st quarter. Sei Investments Co. now owns 335,330 shares of the industrial products company’s stock valued at $28,590,000 after purchasing an additional 21,165 shares during the period. Finally, Prudential PLC bought a new stake in shares of Xylem during the 1st quarter valued at $333,000. 84.53% of the stock is currently owned by institutional investors.

Insider Activity at Xylem

In related news, CEO Patrick Decker sold 99,649 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $111.62, for a total transaction of $11,122,821.38. Following the completion of the sale, the chief executive officer now directly owns 287,564 shares in the company, valued at approximately $32,097,893.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Xylem Price Performance

Shares of Xylem stock opened at $102.29 on Wednesday. The firm has a market capitalization of $24.63 billion, a PE ratio of 54.41, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. Xylem Inc. has a 12 month low of $84.15 and a 12 month high of $118.58. The business’s 50-day moving average price is $108.16 and its 200-day moving average price is $105.22. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23.

Xylem (NYSE:XYL – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.13. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Xylem had a return on equity of 12.74% and a net margin of 5.81%. Xylem’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Sell-side analysts forecast that Xylem Inc. will post 3.65 EPS for the current fiscal year.

Xylem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, August 30th. Xylem’s dividend payout ratio is presently 70.21%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Xylem in a research note on Wednesday, June 28th. They set a “hold” rating and a $121.00 price objective on the stock. TheStreet upgraded Xylem from a “c+” rating to a “b-” rating in a research note on Thursday, August 17th. Royal Bank of Canada decreased their target price on Xylem from $133.00 to $129.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. StockNews.com began coverage on Xylem in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, 888 restated an “initiates” rating on shares of Xylem in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Xylem has a consensus rating of “Hold” and an average target price of $118.25.

Check Out Our Latest Stock Report on XYL

Xylem Profile

(Free Report)

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions.