Amundi Has $30.14 Million Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Amundi increased its stake in Zurn Elkay Water Solutions Corp by 5.9%, purchasing an additional 54,644 shares, bringing its total ownership to 981,427 shares valued at approximately $30.1 million.
• Research analysts have set a new target price for Zurn Elkay, with Stifel Nicolaus increasing its target from $43.00 to $50.00, and the stock currently holds an average rating of "Hold" with an average target price of $38.00.
• Zurn Elkay reported a 7.9% increase in revenue year-over-year, with earnings per share of $0.42 for the latest quarter, exceeding analysts' expectations of $0.36.

Amundi boosted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 981,427 shares of the company's stock after buying an additional 54,644 shares during the quarter. Amundi owned about 0.58% of Zurn Elkay Water Solutions Cor worth $30,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ZWS. HM Payson & Co. acquired a new position in Zurn Elkay Water Solutions Cor during the first quarter worth $37,000. Federated Hermes Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock valued at $59,000 after acquiring an additional 1,733 shares during the period. Archer Investment Corp bought a new stake in Zurn Elkay Water Solutions Cor during the first quarter valued at about $99,000. Central Pacific Bank Trust Division boosted its holdings in Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after acquiring an additional 1,040 shares during the period. Finally, Trexquant Investment LP bought a new stake in Zurn Elkay Water Solutions Cor during the first quarter valued at about $216,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS traded up $1.02 during mid-day trading on Thursday, hitting $46.92. 1,671,065 shares of the stock were exchanged, compared to its average volume of 995,391. The company has a market cap of $7.86 billion, a P/E ratio of 46.43, a PEG ratio of 2.46 and a beta of 1.07. The stock's fifty day simple moving average is $42.27 and its two-hundred day simple moving average is $37.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $47.21.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to analyst estimates of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. As a group, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 35.64%.

Analyst Ratings Changes

A number of research firms have issued reports on ZWS. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average target price of $38.00.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the sale, the vice president owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 9,857 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total transaction of $444,156.42. Following the sale, the director directly owned 328,964 shares of the company's stock, valued at approximately $14,823,117.84. The trade was a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,930 shares of company stock valued at $6,501,529. Company insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Company Profile

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.