Zurn Elkay Water Solutions Cor $ZWS Holdings Lowered by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Zurn Elkay Water Solutions by 4.1%, owning approximately 1,241,252 shares worth $40.9 million after selling 52,403 shares.
• Several hedge funds made changes to their positions, with HM Payson & Co. and Federated Hermes Inc. both acquiring new stakes in the company during the first quarter.
• Zurn Elkay Water Solutions' quarterly earnings showed a 7.9% year-over-year revenue increase, reporting $0.42 earnings per share, surpassing analysts' expectations of $0.36.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,241,252 shares of the company's stock after selling 52,403 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.74% of Zurn Elkay Water Solutions Cor worth $40,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HM Payson & Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $37,000. Federated Hermes Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after buying an additional 1,733 shares in the last quarter. Archer Investment Corp bought a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at about $99,000. Central Pacific Bank Trust Division boosted its position in shares of Zurn Elkay Water Solutions Cor by 31.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Crestline Management LP bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $243,000. 83.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZWS shares. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two 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, Zurn Elkay Water Solutions Cor has a consensus rating of "Hold" and a consensus target price of $38.00.

Zurn Elkay Water Solutions Cor Trading Down 0.0%

Shares of ZWS opened at $45.94 on Friday. The business's 50-day moving average price is $41.73 and its 200 day moving average price is $36.80. The stock has a market capitalization of $7.70 billion, a P/E ratio of 45.48, a P/E/G ratio of 2.47 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $46.60. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the sale, the director directly owned 180,000 shares of the company's stock, valued at approximately $7,871,400. This represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the sale, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,930 shares of company stock worth $6,501,529 in the last three months. 2.60% of the stock is currently owned by company insiders.

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.

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