Callan Family Office LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,147 shares of the company’s stock, valued at approximately $664,000.
Several other hedge funds also recently bought and sold shares of ZWS. Kilter Group LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $35,000. Hantz Financial Services Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after acquiring an additional 468 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after acquiring an additional 292 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on ZWS. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.22.
Insider Activity at Zurn Elkay Water Solutions Cor
In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler purchased 2,016 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. This represents a 5.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.
Zurn Elkay Water Solutions Cor Trading Up 0.3%
Shares of NYSE:ZWS opened at $48.98 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The stock’s 50-day moving average is $49.45 and its 200-day moving average is $48.84. The company has a market cap of $8.12 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.86 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00.
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.
Zurn Elkay Water Solutions Cor Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s 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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