Illinois Municipal Retirement Fund Boosts Holdings in Zurn Elkay Water Solutions Cor $ZWS

Illinois Municipal Retirement Fund raised its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 15.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 114,668 shares of the company’s stock after buying an additional 14,958 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.07% of Zurn Elkay Water Solutions Cor worth $5,142,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ZWS. Nordea Investment Management AB purchased a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $7,356,000. Azzad Asset Management Inc. ADV acquired a new position in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $1,205,000. Allspring Global Investments Holdings LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 73.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after buying an additional 55,490 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $2,870,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $6,305,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $47.75 on Friday. The stock has a fifty day moving average price of $48.43 and a 200 day moving average price of $48.23. The stock has a market cap of $7.97 billion, a PE ratio of 38.50, a P/E/G ratio of 1.89 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1 year low of $36.59 and a 1 year 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 posted its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZWS shares. Barclays assumed coverage on Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.