Cantor Fitzgerald Investment Advisors L.P. Buys 38,500 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Cantor Fitzgerald Investment Advisors initiated a position in Zurn Elkay Water Solutions by purchasing 38,500 shares valued at approximately $1.79 million. Institutional investors and hedge funds 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 $57.00. Stifel and Oppenheimer recently raised their targets to $62 and $60, respectively.
• Zurn Elkay reported quarterly EPS of $0.50, exceeding estimates of $0.47, while revenue rose 10.5% year over year to $491 million. The stock recently opened at $48.56, within its 52-week range of $43.06 to $55.00.

Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,500 shares of the company's stock, valued at approximately $1,789,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Zurn Elkay Water Solutions Cor by 0.5% in the second quarter. Arizona State Retirement System now owns 41,607 shares of the company's stock valued at $2,102,000 after purchasing an additional 220 shares during the last quarter. Assetmark Inc. raised its holdings in Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after purchasing an additional 292 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,708 shares of the company's stock worth $187,000 after buying an additional 331 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 26.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,688 shares of the company's stock worth $78,000 after buying an additional 349 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 1.8% during the 1st quarter. Bleakley Financial Group LLC now owns 22,285 shares of the company's stock worth $999,000 after buying an additional 394 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on ZWS shares. Robert W. Baird set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Royal Bank Of Canada reduced their price target on shares of Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 14th. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Oppenheimer lifted their target price on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 9th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $49.60 per share, with a total value of $99,993.60. Following the acquisition, the director directly owned 37,487 shares of the company's stock, valued at $1,859,355.20. This represents a 5.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $48.56 on Friday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00. The business's 50-day moving average price is $47.44 and its 200 day moving average price is $48.50. The firm has a market cap of $8.05 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.76 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current year.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.

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