Hsbc Holdings PLC Grows Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Hsbc Holdings PLC increased its stake in Zurn Elkay Water Solutions Corporation by 53.5% during the first quarter, now holding 67,843 shares worth approximately $2.22 million.
• The company reported earnings of $0.42 per share, exceeding estimates, and a 7.9% revenue increase year-over-year, totaling $444.50 million for the quarter.
• Zurn Elkay Water Solutions announced a quarterly dividend of $0.09 per share, translating to an annual yield of 0.8%, set to be paid on September 5th.

Hsbc Holdings PLC raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,843 shares of the company's stock after purchasing an additional 23,639 shares during the period. Hsbc Holdings PLC's holdings in Zurn Elkay Water Solutions Cor were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at $37,000. Federated Hermes Inc. grew 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 purchasing an additional 1,733 shares during the period. Archer Investment Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter worth $99,000. Central Pacific Bank Trust Division boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock worth $145,000 after acquiring an additional 1,040 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth $221,000. 83.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 9,857 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the sale, the director owned 328,964 shares in the company, valued at approximately $14,823,117.84. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction on 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 owned 94,330 shares in the company, valued at $4,113,731.30. This trade represents a 53.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock worth $6,501,529 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock traded down $0.24 on Tuesday, reaching $45.12. The company's stock had a trading volume of 1,048,745 shares, compared to its average volume of 827,179. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $46.60. The company has a market capitalization of $7.56 billion, a P/E ratio of 44.67, a PEG ratio of 2.43 and a beta of 1.07. The stock's 50 day simple moving average is $41.19 and its 200-day simple moving average is $36.59.

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

Zurn Elkay Water Solutions Cor Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.