Zurn Elkay Water Solutions Cor $ZWS Stock Holdings Decreased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 48.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,438 shares of the company’s stock after selling 20,041 shares during the period. Maryland State Retirement & Pension System’s holdings in Zurn Elkay Water Solutions Cor were worth $1,008,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after buying an additional 30,483 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Zurn Elkay Water Solutions Cor by 22.8% in the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after acquiring an additional 916,850 shares during the last quarter. Beck Mack & Oliver LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 3.7% during the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after acquiring an additional 133,478 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock valued at $126,059,000 after acquiring an additional 91,740 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Zurn Elkay Water Solutions Cor by 6.4% during the second quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after purchasing an additional 162,080 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 10,539 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $47.51, for a total value of $500,707.89. Following the sale, the director directly owned 169,461 shares in the company, valued at $8,051,092.11. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 20,100 shares of company stock valued at $960,105. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZWS. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Oppenheimer set a $53.00 price objective on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

Zurn Elkay Water Solutions Cor Stock Down 2.1%

ZWS stock opened at $46.29 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. 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’s 50-day simple moving average is $46.93 and its 200 day simple moving average is $45.41. The stock has a market cap of $7.75 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. During the same period in the previous year, the business posted $0.34 EPS. Zurn Elkay Water Solutions Cor’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Thursday, November 20th were issued a $0.11 dividend. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 39.29%.

Zurn Elkay Water Solutions Cor Company Profile

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.