Xylem Inc (XYL) Announces Quarterly Dividend of $0.21
Xylem Inc (NYSE:XYL) announced a quarterly dividend on Wednesday, January 31st, Zacks reports. Investors of record on Thursday, February 15th will be given a dividend of 0.21 per share by the industrial products company on Thursday, March 15th. This represents a $0.84 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Xylem’s previous quarterly dividend of $0.18.
Xylem has increased its dividend by an average of 12.0% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Xylem has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Xylem to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 21.4%.
Xylem (NYSE:XYL) opened at $71.93 on Tuesday. The company has a market cap of $12,719.27, a price-to-earnings ratio of 29.63, a PEG ratio of 1.35 and a beta of 1.20. Xylem has a twelve month low of $46.95 and a twelve month high of $76.81. The company has a quick ratio of 1.41, a current ratio of 1.88 and a debt-to-equity ratio of 0.87.
In related news, Director Steven R. Loranger sold 47,712 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $68.10, for a total transaction of $3,249,187.20. Following the transaction, the director now owns 68,843 shares of the company’s stock, valued at approximately $4,688,208.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Curtis J. Crawford sold 7,948 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.77, for a total transaction of $570,427.96. Following the transaction, the director now directly owns 55,245 shares in the company, valued at approximately $3,964,933.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,455 shares of company stock worth $5,166,873. 0.75% of the stock is owned by insiders.
A number of brokerages have recently commented on XYL. Zacks Investment Research raised shares of Xylem from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Saturday. Seaport Global Securities reissued a “buy” rating and issued a $83.00 price target on shares of Xylem in a report on Friday, February 2nd. Canaccord Genuity reissued a “hold” rating and issued a $75.00 price target on shares of Xylem in a report on Sunday, January 28th. BMO Capital Markets reissued a “buy” rating and issued a $83.00 price target on shares of Xylem in a report on Friday, January 26th. Finally, Oppenheimer increased their price target on shares of Xylem to $82.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Xylem has an average rating of “Buy” and an average target price of $70.08.
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Xylem Company Profile
Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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