Zurn Elkay Water Solutions Cor $ZWS Shares Purchased by Amundi

Key Points

• Amundi increased its Zurn Elkay Water Solutions stake by 15.7% in the second quarter, bringing its holdings to 1.05 million shares valued at approximately $52.8 million. Institutional investors collectively own 83.33% of the company.
• Zurn Elkay reported quarterly earnings of $0.50 per share, exceeding estimates of $0.47, while revenue rose 10.5% year over year to $491 million. The company also maintains a quarterly dividend of $0.11 per share, yielding about 1.0%.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $57.44. Shares opened at $45.44, down 2.6%, compared with a 52-week range of $43.06 to $55.00.

Amundi boosted its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,045,504 shares of the company's stock after acquiring an additional 141,916 shares during the quarter. Amundi owned 0.63% of Zurn Elkay Water Solutions Cor worth $52,829,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ZWS. Kilter Group LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at $27,000. Advisory Services Network LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the third quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock worth $37,000 after acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler bought 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the acquisition, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZWS shares. Oppenheimer raised their target price on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.44.

Zurn Elkay Water Solutions Cor Trading Down 2.6%

Shares of ZWS opened at $45.44 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00. The stock has a market cap of $7.54 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The firm's fifty day moving average is $48.90 and its two-hundred day moving average is $48.50. 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 (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. Research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is 27.16%.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a water solutions company that designs, manufactures and supplies products used to manage, conserve, control and promote the safe use of water. Its offerings serve commercial, institutional, industrial and residential applications across plumbing, drainage and water-management systems.

The company's product portfolio includes plumbing fixtures and fittings, commercial faucets, flush valves, showers, drains, roof and floor drainage products, backflow-prevention devices, water-quality and filtration systems, drinking-water products, and related accessories.

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