Hsbc Holdings PLC Sells 28,659 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Hsbc Holdings PLC trimmed its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 39.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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.

A number of other large investors have also made changes to their positions in the company. DAVENPORT & Co LLC grew its position in Zurn Elkay Water Solutions by 3.2% during the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after buying an additional 269 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after acquiring an additional 344 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Zurn Elkay Water Solutions by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock worth $2,288,000 after purchasing an additional 389 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Zurn Elkay Water Solutions by 4.8% in the 4th quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock worth $352,000 after purchasing an additional 430 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in Zurn Elkay Water Solutions by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after purchasing an additional 477 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was 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 owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock traded down $0.11 during mid-day trading on Wednesday, hitting $34.18. The company had a trading volume of 27,206 shares, compared to its average volume of 1,119,189. The company has a market capitalization of $5.75 billion, a P/E ratio of 37.14, a P/E/G ratio of 2.01 and a beta of 1.02. The stock's 50 day moving average price is $32.53 and its 200-day moving average price is $36.10. Zurn Elkay Water Solutions Co. has a 52-week low of $27.74 and a 52-week high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.31 EPS 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 during the quarter, compared to the consensus estimate of $383.87 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on ZWS. Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note 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 target price on the stock. in a research note on Wednesday, April 9th. The Goldman Sachs Group dropped their price target 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, Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions currently has an average rating of "Hold" and an average price target of $36.43.

Zurn Elkay Water Solutions 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.