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Xylem Inc. (XYL - Analyst Report), one of the leading providers of innovative solutions for global water challenges, recently announced to have received a contract worth $0.5 million to provide its wastewater services in Tolu, a town located on the Caribbean coast of Colombia.

As per the contract signed, Xylem will be required to set up a secondary wastewater treatment solution that will help eliminate odor problems and increase the quality of the wastewater that can then be used for a number of applications.

The water treatment solution installation is likely to be complete and operational by Nov 2013. Xylem through this set up is likely to save 11% of maintenance cost annually as well as reduce land requirements that can be used for other commercial purposes.

A look into Xylem’s second quarter 2013 financial results (announced on Jul 30, 2013) clearly shows that the company won several important contracts in the quarter, totaling more than $1 billion. China, Singapore, United Arab Emirates, and Spain were some of the prime locations of the contracts won.

The Zacks Consensus Estimate for Xylem currently stands at $1.43 for 2013 and $1.69 for 2014, reflecting year-over-year decline of 19.2% and growth of 18.4%, respectively. Also, we have an Earnings ESP of +1.4% for 2013 and 7.1% for 2014.

Xylem Inc. is based in White Plains, New York and operates in more than 150 countries worldwide. The company currently has a $5.1 billion market capitalization and carries a Zacks Rank #5 (Strong Sell).

Other stocks to watch out for in the industry are Gorman-Rupp Co. (GRC - Snapshot Report) and Graham Corp. (GHM - Snapshot Report), each with a Zacks Rank #1 (Strong Buy) while The Middleby Corp. (MIDD - Analyst Report) carries a Zacks Rank #2 (Buy).

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