Topic: How To Invest

Pat: Can I have your opinion on ITT spinoff Xylem Inc.? Thanks.

Article Excerpt

Xylem Inc., $25.65, symbol XYL on New York (Shares outstanding: 185.4 million; Market cap: $4.6 billion; www.xyleminc.com), sells equipment and services related to managing water. The company’s products help its clients collect, distribute, use and return water to the environment. Xylem is a Greek-derived word that refers to vascular tissue that carries water and nutrients through plants. The company operates through two divisions: The Water Infrastructure division sells a wide range of products, including water and waste-water pumps, controls and systems, as well as water-treatment and -testing equipment. The Applied Water division focuses on residential, commercial, industrial and agricultural water users. Its main products include pumps, valves, heat exchangers, controls and dispensing equipment. Xylem was formed on October 31, 2011, after ITT Corp. split up into three separate companies: Xylem; Exelis Inc., symbol XLS on New York (defence and information technology); and the new ITT Corp., symbol ITT on New York (industrial engineering). ITT shareholders received one Xylem share for each share of ITT they held,…