Lbp Am Sa Reduces Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Lbp Am Sa lowered its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 174,162 shares of the company’s stock after selling 64,898 shares during the quarter. Lbp Am Sa’s holdings in Zurn Elkay Water Solutions Cor were worth $8,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HM Payson & Co. boosted its position in shares of Zurn Elkay Water Solutions Cor by 12.0% during the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock valued at $108,000 after acquiring an additional 246 shares during the last quarter. Archer Investment Corp grew its stake in shares of Zurn Elkay Water Solutions Cor by 10.0% in the 2nd quarter. Archer Investment Corp now owns 3,300 shares of the company’s stock valued at $121,000 after buying an additional 300 shares during the period. Thrive Wealth Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 3.8% during the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after buying an additional 323 shares during the last quarter. IFP Advisors Inc raised its position in shares of Zurn Elkay Water Solutions Cor by 12.5% during the 2nd quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock valued at $112,000 after buying an additional 339 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after buying an additional 341 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $47.04 on Tuesday. The company has a market cap of $7.87 billion, a P/E ratio of 42.00, a P/E/G ratio of 1.93 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $50.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83. The stock has a 50-day moving average of $47.00 and a two-hundred day moving average of $45.67.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating 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 firm had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 10,539 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the completion of the transaction, the director owned 169,461 shares in the company, valued at $8,051,092.11. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 20,100 shares of company stock valued at $960,105 in the last three months. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Oppenheimer set a $53.00 target price on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada started coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, January 5th. They issued a “sector perform” rating and a $49.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus price target of $45.50.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.