Hsbc Holdings PLC Acquires 11,768 Shares of Zurn Elkay Water Solutions Cor $ZWS

Hsbc Holdings PLC raised its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 262.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the company’s stock after buying an additional 11,768 shares during the quarter. Hsbc Holdings PLC’s holdings in Zurn Elkay Water Solutions Cor were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ZWS. Advisory Services Network LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the third quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at $35,000. Hantz Financial Services Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after purchasing an additional 468 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Zurn Elkay Water Solutions Cor by 507.5% in the 3rd quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after purchasing an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Up 1.2%

ZWS opened at $47.51 on Wednesday. The stock has a 50-day moving average of $48.62 and a 200 day moving average of $48.23. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $35.73 and a 12 month high of $53.76. The firm has a market cap of $7.93 billion, a P/E ratio of 38.32, a P/E/G ratio of 1.86 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. As a group, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were given a $0.11 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 35.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ZWS shares. Robert W. Baird cut their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Barclays began coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 target price on the stock. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Oppenheimer restated an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.33.

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.