Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases Shares of 81,292 Zurn Elkay Water Solutions Cor $ZWS

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 81,292 shares of the company’s stock, valued at approximately $3,779,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. MAI Capital Management boosted its holdings in Zurn Elkay Water Solutions Cor by 120,771.6% during the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock worth $13,814,000 after buying an additional 293,475 shares in the last quarter. UBS Group AG grew 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 worth $22,535,000 after buying an additional 292,747 shares during the last quarter. Oberweis Asset Management Inc. acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter worth approximately $12,510,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after buying an additional 223,168 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Up 3.1%

NYSE ZWS opened at $47.82 on Thursday. The firm’s 50 day moving average price is $47.75 and its two-hundred day moving average price is $47.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a twelve month low of $35.06 and a twelve month high of $53.76. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 1.83 and a beta of 1.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.48%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZWS shares. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Robert W. Baird decreased their price target on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.88.

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.