State of New Jersey Common Pension Fund D Sells 4,371 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) by 5.1% during the third quarter, HoldingsChannel reports. The fund owned 80,680 shares of the company’s stock after selling 4,371 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Zurn Elkay Water Solutions were worth $1,977,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $42,000. Point72 Hong Kong Ltd bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter valued at $64,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 21.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,341 shares of the company’s stock valued at $106,000 after purchasing an additional 766 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $116,000. Finally, Natixis Investment Managers International bought a new stake in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $137,000. 74.65% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Stock Performance

ZWS opened at $20.44 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $22.96 and its two-hundred day moving average price is $25.63. Zurn Elkay Water Solutions Co. has a 1-year low of $20.30 and a 1-year high of $36.82. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -185.82, a PEG ratio of 1.41 and a beta of 1.27.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Zurn Elkay Water Solutions had a negative net margin of 1.61% and a positive return on equity of 26.79%. The firm had revenue of $417.70 million for the quarter, compared to the consensus estimate of $420.47 million. On average, analysts expect that Zurn Elkay Water Solutions Co. will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday. Robert W. Baird downgraded shares of Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $26.00 in a research report on Tuesday, December 20th. Mizuho dropped their target price on shares of Zurn Elkay Water Solutions from $31.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Oppenheimer dropped their target price on shares of Zurn Elkay Water Solutions from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Finally, Stifel Nicolaus dropped their target price on shares of Zurn Elkay Water Solutions from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Zurn Elkay Water Solutions Company 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.

Further Reading

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

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