Benjamin F. Edwards & Company Inc. Raises Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Benjamin F. Edwards & Company Inc. raised its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,341 shares of the company’s stock after purchasing an additional 766 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Zurn Elkay Water Solutions were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Candriam S.C.A. purchased a new stake in Zurn Elkay Water Solutions during the second quarter valued at approximately $3,927,000. Castleark Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 30.4% in the second quarter. Castleark Management LLC now owns 222,790 shares of the company’s stock worth $6,069,000 after buying an additional 51,960 shares during the period. Inspire Investing LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the second quarter worth approximately $218,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Zurn Elkay Water Solutions in the second quarter worth approximately $150,000. Finally, Davidson Kempner Capital Management LP raised its holdings in shares of Zurn Elkay Water Solutions by 81.3% in the second quarter. Davidson Kempner Capital Management LP now owns 824,923 shares of the company’s stock worth $22,471,000 after buying an additional 370,023 shares during the period. 74.65% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 1.6 %

ZWS opened at $22.43 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 2.44. The stock’s fifty day moving average is $23.05 and its two-hundred day moving average is $25.77. Zurn Elkay Water Solutions Co. has a 52 week low of $20.65 and a 52 week high of $36.82.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last announced its earnings results on Tuesday, October 25th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $417.70 million for the quarter, compared to analysts’ expectations of $420.47 million. Zurn Elkay Water Solutions had a positive return on equity of 26.79% and a negative net margin of 1.61%. As a group, analysts predict that Zurn Elkay Water Solutions Co. will post 0.96 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 7th. Shareholders of record on Friday, November 18th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, November 17th. This represents a $0.28 annualized dividend and a yield of 1.25%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently -254.55%.

Wall Street Analysts Forecast Growth

ZWS has been the topic of several recent analyst reports. Mizuho reduced their price target on Zurn Elkay Water Solutions from $31.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $26.00 in a report on Tuesday, December 20th. KeyCorp reduced their price objective on Zurn Elkay Water Solutions from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. Oppenheimer reduced their price objective on Zurn Elkay Water Solutions from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Finally, Stifel Nicolaus reduced their price objective on Zurn Elkay Water Solutions from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Zurn Elkay Water Solutions Profile

(Get Rating)

Zurn Elkay Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name.

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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