Sun Sep 15 15:44:52 UTC 2024: ## HBK Sorce Advisory Reduces Stake in Xylem Inc. (XYL)

**New York, NY (September 15th, 2024) -** Investment firm HBK Sorce Advisory LLC has reduced its stake in Xylem Inc. (NYSE:XYL) by 2.4% during the second quarter, according to the company’s recent 13F filing with the Securities and Exchange Commission. The fund now owns 4,722 shares of the industrial products company, valued at $640,000.

This move follows a trend of adjusted positions in Xylem by several hedge funds. While Vanguard Group Inc. increased its stake in Xylem by 0.7% in the fourth quarter, other investors like Swedbank AB and Mirova US LLC also boosted their holdings in the second quarter. Norges Bank acquired a new stake in Xylem during the fourth quarter, valued at approximately $198,207,000. Meanwhile, DekaBank Deutsche Girozentrale increased its stake by 2.2% in the second quarter.

Analysts continue to be optimistic about Xylem’s prospects. TD Cowen maintained a “hold” rating with a $138.00 price target, while Argus upgraded their target price to $165.00 and assigned a “buy” rating. Royal Bank of Canada also raised their price target to $163.00 and gave an “outperform” rating. UBS Group initiated coverage with a “buy” rating and a $165.00 price target. Stifel Nicolaus further boosted their target price to $172.00 and maintained a “buy” rating. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.54.

Xylem, which provides engineered products and solutions for water infrastructure and management, recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company also declared a quarterly dividend of $0.36 per share, payable on September 26th.

Overall, investors and analysts remain positive about Xylem’s future performance, despite HBK Sorce Advisory’s recent reduction in its stake. The company’s strong earnings and continued investment from other hedge funds suggest a promising outlook for Xylem in the coming months.

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