Meiji Yasuda Asset Management Co Ltd. Boosts Stake in Xylem Inc. (NYSE:XYL)

Meiji Yasuda Asset Management Co Ltd. raised its position in Xylem Inc. (NYSE:XYL) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,660 shares of the industrial products company’s stock after purchasing an additional 115 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Xylem were worth $6,464,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Xylem by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,048,996 shares of the industrial products company’s stock valued at $3,207,683,000 after buying an additional 187,847 shares during the period. Swedbank AB increased its stake in Xylem by 1.0% during the second quarter. Swedbank AB now owns 2,436,974 shares of the industrial products company’s stock worth $330,527,000 after purchasing an additional 25,308 shares during the period. Mirova US LLC increased its stake in Xylem by 2.0% during the second quarter. Mirova US LLC now owns 1,876,618 shares of the industrial products company’s stock worth $254,526,000 after purchasing an additional 36,013 shares during the period. Norges Bank acquired a new stake in shares of Xylem during the fourth quarter worth about $198,207,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Xylem by 2.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,665,090 shares of the industrial products company’s stock valued at $227,364,000 after purchasing an additional 36,601 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Argus upped their price objective on Xylem from $146.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Robert W. Baird lifted their target price on Xylem from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. UBS Group began coverage on Xylem in a research note on Tuesday, August 13th. They set a “buy” rating and a $165.00 target price for the company. Finally, Oppenheimer increased their price target on Xylem from $147.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Xylem currently has an average rating of “Moderate Buy” and an average target price of $147.54.

Xylem Stock Performance

Shares of Xylem stock opened at $133.14 on Wednesday. The firm has a market capitalization of $32.34 billion, a P/E ratio of 47.38, a P/E/G ratio of 2.34 and a beta of 1.04. The company has a quick ratio of 1.33, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Xylem Inc. has a 52 week low of $87.59 and a 52 week high of $146.08. The firm’s 50 day moving average is $133.86 and its two-hundred day moving average is $134.04.

Xylem (NYSE:XYL) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was up 26.0% on a year-over-year basis. Research analysts forecast that Xylem Inc. will post 4.26 EPS for the current fiscal year.

Xylem Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, August 29th. Xylem’s payout ratio is currently 51.25%.

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.