First Trust Advisors LP Sells 225,511 Shares of Zurn Elkay Water Solutions Cor $ZWS

First Trust Advisors LP lessened its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,078,224 shares of the company’s stock after selling 225,511 shares during the quarter. First Trust Advisors LP’s holdings in Zurn Elkay Water Solutions Cor were worth $138,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Andina Capital Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 1.6% in the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock valued at $587,000 after buying an additional 200 shares during the period. UMB Bank n.a. boosted its stake in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock valued at $57,000 after acquiring an additional 240 shares during the last quarter. Assetmark Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after acquiring an additional 292 shares during the period. Osaic Holdings Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after acquiring an additional 341 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock valued at $4,924,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZWS shares. Royal Bank Of Canada increased their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Stifel Nicolaus dropped their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday. 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. Finally, Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Zurn Elkay Water Solutions Cor Stock Up 1.7%

Zurn Elkay Water Solutions Cor stock opened at $48.28 on Friday. The company has a 50 day moving average of $48.26 and a 200-day moving average of $48.26. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a twelve month low of $37.25 and a twelve month high of $53.76. The stock has a market capitalization of $8.06 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 35.48%.

Zurn Elkay Water Solutions Cor 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.