Raymond James & Associates cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS – Get Rating) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,229 shares of the company's stock after selling 1,606 shares during the period. Raymond James & Associates' holdings in Zurn Elkay Water Solutions were worth $1,476,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in Zurn Elkay Water Solutions in the second quarter worth approximately $42,000. Point72 Hong Kong Ltd acquired a new position in shares of Zurn Elkay Water Solutions during the 1st quarter worth $64,000. Arlington Partners LLC bought a new position in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at $116,000. Natixis Investment Managers International acquired a new stake in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $137,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Zurn Elkay Water Solutions in the second quarter worth $150,000. 74.65% of the stock is owned by hedge funds and other institutional investors.
Get Zurn Elkay Water Solutions alerts:Analyst Ratings Changes
A number of analysts have weighed in on ZWS shares. KeyCorp reduced their price target on Zurn Elkay Water Solutions from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, January 18th. Stifel Nicolaus decreased their target price on Zurn Elkay Water Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, January 20th. Oppenheimer dropped their price target 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. Robert W. Baird cut shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $27.00 to $26.00 in a research note on Tuesday, December 20th. Finally, Mizuho lowered 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 note on Friday, January 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.50.
Zurn Elkay Water Solutions Stock Performance
NYSE ZWS opened at $21.21 on Thursday. The company's fifty day moving average is $22.77 and its two-hundred day moving average is $25.43. Zurn Elkay Water Solutions Co. has a 52-week low of $20.10 and a 52-week high of $36.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.44 and a quick ratio of 1.22. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -192.45, a P/E/G ratio of 1.40 and a beta of 1.27.Zurn Elkay Water Solutions (NYSE:ZWS – Get Rating) last released its earnings results on Tuesday, October 25th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $417.70 million for the quarter, compared to the consensus estimate 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%. Equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 0.95 EPS for the current year.
About Zurn Elkay Water Solutions
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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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