Amundi Has $40.52 Million Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Amundi reduced its Zurn Elkay Water Solutions stake by 3.6% in the first quarter, selling 33,910 shares and retaining 903,588 shares worth approximately $40.52 million. Institutional investors collectively own 83.33% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $57.22, above the stock’s $50.56 opening price.
• Zurn Elkay exceeded quarterly expectations, reporting $0.50 in EPS and $491 million in revenue, while revenue rose 10.5% year over year. The company also declared a quarterly dividend of $0.11 per share, representing an annualized yield of 0.9%.

Amundi lowered its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 903,588 shares of the company's stock after selling 33,910 shares during the quarter. Amundi owned approximately 0.54% of Zurn Elkay Water Solutions Cor worth $40,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZWS. Invesco Ltd. lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company's stock worth $279,571,000 after purchasing an additional 201,299 shares in the last quarter. State Street Corp grew its stake in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company's stock valued at $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company's stock valued at $164,716,000 after purchasing an additional 15,232 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company's stock valued at $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Zurn Elkay Water Solutions Cor by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company's stock worth $127,787,000 after purchasing an additional 162,065 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

ZWS has been the subject of several research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday. Barclays lifted their target price on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday. Finally, UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.22.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $50.56 on Monday. The company has a market capitalization of $8.39 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The business has a 50-day moving average of $48.52 and a two-hundred day moving average of $48.41. Zurn Elkay Water Solutions Cor has a 1 year low of $42.39 and a 1 year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the previous year, the firm earned $0.42 EPS. Zurn Elkay Water Solutions Cor's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor's payout ratio is presently 27.16%.

Zurn Elkay Water Solutions Cor Profile

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.

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