Hsbc Holdings PLC Trims Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Hsbc Holdings PLC decreased its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 39.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,204 shares of the company's stock after selling 28,659 shares during the period. Hsbc Holdings PLC's holdings in Zurn Elkay Water Solutions were worth $1,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ZWS. Barclays PLC boosted its position in shares of Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company's stock valued at $10,952,000 after purchasing an additional 140,624 shares in the last quarter. Principal Financial Group Inc. increased its position in Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after buying an additional 868,748 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock worth $58,077,000 after acquiring an additional 329,563 shares during the last quarter. Perpetual Ltd raised its position in shares of Zurn Elkay Water Solutions by 8.4% in the 4th quarter. Perpetual Ltd now owns 214,189 shares of the company's stock worth $7,989,000 after purchasing an additional 16,520 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $556,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZWS shares. Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. BNP Paribas cut shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective for the company. in a report on Wednesday, April 9th. The Goldman Sachs Group cut their target price on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, Robert W. Baird lowered their price target on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.43.

Insider Activity

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock traded down $0.38 on Tuesday, hitting $34.39. 384,855 shares of the company's stock were exchanged, compared to its average volume of 1,077,332. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The stock has a market capitalization of $5.79 billion, a PE ratio of 37.37, a PEG ratio of 2.01 and a beta of 1.02. Zurn Elkay Water Solutions Co. has a 1 year low of $27.74 and a 1 year high of $41.15. The company has a 50-day simple moving average of $32.55 and a 200-day simple moving average of $36.11.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 1.05%. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 36.36%.

About Zurn Elkay Water Solutions

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.