Peregrine Capital Management LLC Sells 60,410 Shares of Zurn Elkay Water Solutions Cor $ZWS

Peregrine Capital Management LLC cut its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 24.2% during the first quarter, HoldingsChannel.com reports. The firm owned 189,251 shares of the company’s stock after selling 60,410 shares during the quarter. Peregrine Capital Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $8,486,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Fort Washington Investment Advisors Inc. OH lifted its holdings in Zurn Elkay Water Solutions Cor by 25.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 496,639 shares of the company’s stock valued at $22,269,000 after buying an additional 100,090 shares during the period. Pictet Asset Management Holding SA grew its holdings in 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 acquired a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth $2,950,000. OP Asset Management Ltd bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at $2,030,000. Finally, SG Americas Securities LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 53.5% in the 1st 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 during the period. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Up 1.3%

ZWS opened at $50.56 on Wednesday. The firm’s fifty day moving average is $49.27 and its two-hundred day moving average is $48.20. The firm has a market cap of $8.44 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a twelve month low of $35.73 and a twelve month high of $53.76. 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 (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. During the same quarter in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a $0.11 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Oppenheimer reissued an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird reduced their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Finally, Barclays assumed coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday. They set an “overweight” rating and a $59.00 target price for the company. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.33.

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.