Fiera Capital Corp Lowers Holdings in Zurn Elkay Water Solutions Cor $ZWS

Fiera Capital Corp reduced its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,905 shares of the company’s stock after selling 1,180 shares during the period. Fiera Capital Corp owned about 0.07% of Zurn Elkay Water Solutions Cor worth $4,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZWS. Royal Bank of Canada increased its position in shares of Zurn Elkay Water Solutions Cor by 1.5% in the 1st quarter. Royal Bank of Canada now owns 597,698 shares of the company’s stock valued at $19,712,000 after purchasing an additional 8,822 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 36.4% during the 1st quarter. Intech Investment Management LLC now owns 74,842 shares of the company’s stock worth $2,468,000 after purchasing an additional 19,959 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 39.8% during the first quarter. Voya Investment Management LLC now owns 105,039 shares of the company’s stock worth $3,464,000 after purchasing an additional 29,878 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at $380,000. Finally, Global Alpha Capital Management Ltd. increased its holdings in Zurn Elkay Water Solutions Cor by 11.9% in the second quarter. Global Alpha Capital Management Ltd. now owns 109,342 shares of the company’s stock valued at $3,999,000 after buying an additional 11,602 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $46.03 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The firm has a 50-day simple moving average of $46.82 and a 200-day simple moving average of $41.73. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 41.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is 39.29%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ZWS shares. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Moderate Buy” and an average target price of $42.83.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $47.50, for a total value of $354,397.50. Following the sale, the director owned 162,000 shares in the company, valued at $7,695,000. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 40,100 shares of company stock worth $1,911,084. 2.60% of the stock is owned by insiders.

About Zurn Elkay Water Solutions Cor

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.