Elevation Point Wealth Partners LLC purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,827 shares of the company’s stock, valued at approximately $901,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in ZWS. Kilter Group LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $25,000. Advisory Services Network LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. grew its stake in Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after buying an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Insiders Place Their Bets
In related news, Director Jacques Donavon Butler acquired 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $49.60 per share, with a total value of $99,993.60. Following the transaction, the director owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by company insiders.
Zurn Elkay Water Solutions Cor Stock Down 0.2%
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 earnings per share. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.
Zurn Elkay Water Solutions Cor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 27.16%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on ZWS shares. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Barclays increased their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Finally, 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 note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average price target of $57.22.
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.
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