GSA Capital Partners LLP bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 17,633 shares of the company’s stock, valued at approximately $891,000.
Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $111,341,000. First Trust Advisors LP boosted its position in Zurn Elkay Water Solutions Cor by 51.9% during the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock worth $153,591,000 after purchasing an additional 1,128,917 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Zurn Elkay Water Solutions Cor by 4,236.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,834 shares of the company’s stock valued at $20,440,000 after purchasing an additional 445,323 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 78.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after purchasing an additional 399,180 shares in the last quarter. Finally, UBS Group AG raised its position in Zurn Elkay Water Solutions Cor by 157.0% in the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after purchasing an additional 292,747 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.22.
Zurn Elkay Water Solutions Cor Price Performance
Shares of NYSE ZWS opened at $49.21 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The business has a 50 day moving average price of $49.39 and a two-hundred day moving average price of $48.79. The firm has a market cap of $8.16 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.04.
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the company posted $0.42 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.
Zurn Elkay Water Solutions Cor Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 27.16%.
About Zurn Elkay Water Solutions Cor
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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