Zurn Elkay Water Solutions Cor $ZWS Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 46.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,108 shares of the company’s stock after selling 25,169 shares during the period. King Luther Capital Management Corp’s holdings in Zurn Elkay Water Solutions Cor were worth $1,353,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ZWS. Advisory Services Network LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its holdings in Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares during the period. Hantz Financial Services Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after purchasing an additional 468 shares during the period. Finally, Allworth Financial LP grew its holdings in Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after purchasing an additional 817 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

ZWS opened at $47.01 on Friday. 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 52-week low of $35.06 and a 52-week high of $53.76. The company has a 50 day moving average of $48.05 and a two-hundred day moving average of $47.90. The company has a market cap of $7.85 billion, a P/E ratio of 37.91, a P/E/G ratio of 1.86 and a beta of 1.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $418.99 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share 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. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. 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. Finally, 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 report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus 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.