Royal Bank of Canada Bolsters Stake in Water Technology Company Xylem Inc.

Royal Bank of Canada has significantly increased its stake in Xylem Inc. (NYSE:XYL), purchasing an additional 53,210 shares in the first quarter and now owning approximately $569.21 million worth of the company's stock.

According to the bank's most recent 13F filing with the SEC, Royal Bank of Canada lifted its position in Xylem by 1.1% during the quarter, bringing its total holdings to 4,763,241 shares.

Xylem reported a strong second-quarter earnings performance, exceeding analyst expectations with adjusted earnings per share of $1.46 and net income of $263 million.