Hsbc Holdings PLC Sells 34,552 Shares of Zurn Elkay Water Solutions Cor $ZWS

Hsbc Holdings PLC lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 50.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,291 shares of the company’s stock after selling 34,552 shares during the quarter. Hsbc Holdings PLC’s holdings in Zurn Elkay Water Solutions Cor were worth $1,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after buying an additional 502 shares in the last quarter. Whittier Trust Co. bought a new stake in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after purchasing an additional 1,733 shares in the last quarter. CWM LLC raised its position in Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after purchasing an additional 454 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter worth $80,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Down 1.1%

Shares of NYSE ZWS opened at $46.35 on Tuesday. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The firm’s 50-day moving average is $46.85 and its 200-day moving average is $43.07. The company has a current ratio of 2.78, a quick ratio of 1.83 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.76 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business had revenue of $455.40 million during the quarter, compared to the consensus estimate of $442.62 million. During the same period in the previous year, the firm posted $0.34 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 20th were paid a $0.11 dividend. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 39.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ZWS shares. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.83.

Insider Activity

In related news, Director Timothy J. Jahnke sold 17,844 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Friday, September 12th. The stock was sold at an average price of $47.55, for a total transaction of $848,482.20. Following the completion of the sale, the director directly owned 311,120 shares of the company’s stock, valued at $14,793,756. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 40,100 shares of company stock valued at $1,911,084. 2.60% of the stock is owned by company insiders.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.