In a recent filing with the Securities and Exchange Commission, Xylem Inc (NYSE:XYL)., a manufacturer of pumps and pumping equipment with a market capitalization of $28.21 billion, announced that Jeanne Beliveau-Dunn has decided not to stand for re-election as a Director at the company's upcoming 2025 annual meeting of shareholders. Beliveau-Dunn, who will continue to serve on the Board until the meeting, cited no disagreements with the company's operations, policies, or practices as the reason for her departure.
The announcement, made on January 10, 2025, indicates that following Beliveau-Dunn's departure, the Board of Directors will be reduced from ten to nine members. This change is set to take effect immediately after the annual meeting, the date of which has not been specified in the filing.
Xylem's disclosure comes as part of a routine 8-K filing, which companies use to inform the public and shareholders about significant events. The filing did not include any further details regarding the reason for Beliveau-Dunn's decision not to seek re-election or any information about potential successors.
Beliveau-Dunn's departure is not associated with any internal conflict or controversy, as clarified in the document. The filing also included standard exhibits such as the cover page from Xylem Inc.'s Form 8-K, formatted in Inline XBRL.
Xylem Inc., headquartered in Washington, D.C., is known for its production and sale of pumps and related equipment and is listed on the New York Stock Exchange under the ticker symbol XYL. The company, which maintains a strong financial health rating according to InvestingPro analysis, has demonstrated consistent shareholder returns with 14 consecutive years of dividend increases.
In other recent news, Xylem Inc. reported solid third-quarter performance, with earnings per share rising by 12% to $1.11, and EBITDA margins reaching a record high of 21.2%. Despite challenges in the Measurement & Control Solutions and Water Solutions and Services segments, the company experienced slight organic revenue growth and an 8% increase in orders. Xylem also announced a fourth-quarter dividend of $0.36 per share, reflecting its ongoing commitment to delivering shareholder value. These are recent developments in the company's financial outlook.
In terms of strategic advancements, Xylem acquired a majority stake in water data management and analytics firm Idrica, a move set to enhance its digital water solutions portfolio, Xylem Vue. The company also announced plans to increase its stake in the Idrica joint venture and the appointment of Meredith (NYSE:MDP) Emerick as leader of the Applied Water segment.
On the analysts' front, Wolfe Research downgraded Xylem shares from Outperform to Peer Perform, citing expectations of uneven organic growth trends for the company through the first half of 2025. Similarly, TD Cowen adjusted its outlook on Xylem by reducing the price target to $125 from the previous $138, while maintaining a Hold rating on the stock. Both firms suggest that the latter part of 2025 might offer a more favorable moment for investors to consider the stock.
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