38,457 Shares in Zurn Elkay Water Solutions Cor $ZWS Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the first quarter, Holdings Channel reports. The fund acquired 38,457 shares of the company’s stock, valued at approximately $1,724,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,584 shares of the company’s stock valued at $250,000 after buying an additional 1,924 shares in the last quarter. California State Teachers Retirement System increased its stake in Zurn Elkay Water Solutions Cor by 21.4% during the 1st quarter. California State Teachers Retirement System now owns 172,405 shares of the company’s stock worth $7,731,000 after acquiring an additional 30,417 shares during the period. Empowered Funds LLC raised its holdings in Zurn Elkay Water Solutions Cor by 37.3% in the 1st quarter. Empowered Funds LLC now owns 11,444 shares of the company’s stock valued at $513,000 after acquiring an additional 3,108 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 1st quarter. Quantinno Capital Management LP now owns 28,821 shares of the company’s stock valued at $1,292,000 after acquiring an additional 3,885 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 5.6% during the 1st quarter. Lazard Asset Management LLC now owns 39,778 shares of the company’s stock worth $1,784,000 after purchasing an additional 2,110 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZWS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Barclays began coverage on shares of Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price target for the company. Finally, Stifel Nicolaus reduced their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.00.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $49.16 on Wednesday. The business has a fifty day simple moving average of $48.34 and a 200 day simple moving average of $48.31. The company has a market cap of $8.20 billion, a P/E ratio of 39.65, a P/E/G ratio of 1.93 and a beta of 1.04. 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 $37.90 and a twelve month high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $483.09 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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