Perigon Wealth Management LLC Invests $230,000 in Xylem Inc. (NYSE:XYL)

Perigon Wealth Management LLC bought a new position in Xylem Inc. (NYSE:XYL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,012 shares of the industrial products company’s stock, valued at approximately $230,000.

A number of other hedge funds have also modified their holdings of the stock. Patten Group Inc. lifted its holdings in Xylem by 0.3% during the fourth quarter. Patten Group Inc. now owns 31,112 shares of the industrial products company’s stock worth $3,558,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Xylem by 4.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,238 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 99 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Xylem by 1.9% during the fourth quarter. Evergreen Capital Management LLC now owns 5,319 shares of the industrial products company’s stock worth $588,000 after acquiring an additional 100 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Xylem by 1.1% during the first quarter. Harbour Investments Inc. now owns 9,017 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 101 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Xylem by 3.2% in the 4th quarter. Boston Trust Walden Corp now owns 3,418 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 107 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Franz Cerwinka sold 2,408 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $121.79, for a total transaction of $293,270.32. Following the completion of the sale, the senior vice president now owns 11,750 shares in the company, valued at $1,431,032.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Geri-Michelle Mcshane sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $122.89, for a total transaction of $122,890.00. Following the completion of the sale, the chief accounting officer now owns 2,935 shares in the company, valued at $360,682.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Franz Cerwinka sold 2,408 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $121.79, for a total value of $293,270.32. Following the sale, the senior vice president now owns 11,750 shares of the company’s stock, valued at approximately $1,431,032.50. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on XYL shares. Stifel Nicolaus lifted their price target on Xylem from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Raymond James raised Xylem from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Robert W. Baird lifted their price target on Xylem from $141.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Royal Bank of Canada lifted their price target on Xylem from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Citigroup lifted their price target on Xylem from $126.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.44.

Xylem Price Performance

NYSE:XYL opened at $126.22 on Thursday. The stock’s 50-day simple moving average is $126.85 and its 200 day simple moving average is $112.01. The company has a market cap of $30.60 billion, a P/E ratio of 46.40, a P/E/G ratio of 2.55 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.30 and a current ratio of 1.76. Xylem Inc. has a 52-week low of $87.59 and a 52-week high of $130.86.

Xylem (NYSE:XYL) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Xylem had a return on equity of 9.65% and a net margin of 8.27%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts forecast that Xylem Inc. will post 4.13 EPS for the current fiscal year.

Xylem Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, February 20th. This is an increase from Xylem’s previous quarterly dividend of $0.33. Xylem’s payout ratio is 52.94%.

About Xylem

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.