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

Hsbc Holdings PLC raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 262.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,248 shares of the company’s stock after purchasing an additional 11,768 shares during the quarter. Hsbc Holdings PLC’s holdings in Zurn Elkay Water Solutions Cor were worth $757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZWS. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth approximately $35,000. Hantz Financial Services Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% during the 4th 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 last quarter. Finally, Allworth Financial LP boosted its stake in shares of Zurn Elkay Water Solutions Cor by 507.5% during the 3rd quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after acquiring an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 1.2%

Shares of ZWS stock opened at $47.51 on Wednesday. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 1.86 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a one year low of $35.73 and a one year high of $53.76. The company’s fifty day moving average price is $48.62 and its 200-day moving average price is $48.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer reissued an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada raised their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.33.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.