Yes, this part of the vascular tissue is tasked with doing just that.
Xylem gets water from the roots of a plant
Dicot Plants: Root - adradial arrangement = Xylem makes a cross in the centre, phloem is in the corners of the cross. No pith. Stem - Perradial arrangement = Xylem and phloem in the same vascular...
The cohesion-tension theory states that water may move up the stem xylem. This is because of the strong attraction of water molecules to each other.
transpiration and root pressure