Fort Washington Investment Advisors Inc. OH boosted its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS – Free Report) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496,639 shares of the company’s stock after buying an additional 100,090 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Zurn Elkay Water Solutions Cor were worth $22,269,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Pictet Asset Management Holding SA grew its holdings in shares of Zurn Elkay Water Solutions Cor by 4.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 25,056 shares of the company’s stock worth $1,124,000 after acquiring an additional 977 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at approximately $2,950,000. OP Asset Management Ltd bought a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $2,030,000. SG Americas Securities LLC boosted its position in shares of Zurn Elkay Water Solutions Cor by 53.5% during the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock valued at $2,023,000 after purchasing an additional 15,735 shares in the last quarter. Finally, Balboa Wealth Partners purchased a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth $235,000. 83.33% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on ZWS. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.88.
Zurn Elkay Water Solutions Cor Stock Up 0.1%
Shares of NYSE:ZWS opened at $50.90 on Monday. The stock has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $48.15. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 2.01 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a 12-month low of $35.73 and a 12-month high of $53.76. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.
Zurn Elkay Water Solutions Cor Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a $0.11 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.
Zurn Elkay Water Solutions Cor 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.
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