Zurn Elkay Water Solutions Cor $ZWS Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542,464 shares of the company’s stock after acquiring an additional 15,232 shares during the period. Geode Capital Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $164,716,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZWS. Alliancebernstein L.P. raised its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares in the last quarter. MAI Capital Management raised its holdings in Zurn Elkay Water Solutions Cor by 120,771.6% in the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after acquiring an additional 293,475 shares in the last quarter. UBS Group AG raised its holdings in Zurn Elkay Water Solutions Cor by 157.0% in the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after acquiring an additional 292,747 shares in the last quarter. Oberweis Asset Management Inc. acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at $12,510,000. Finally, Fisher Asset Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after acquiring an additional 223,168 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZWS has been the topic of several recent analyst reports. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Robert W. Baird cut 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 report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus upped their price target 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. Finally, Royal Bank Of Canada upped their price target 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 equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Up 0.0%

ZWS stock opened at $47.46 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. Zurn Elkay Water Solutions Cor has a 1-year low of $35.06 and a 1-year high of $53.76. The firm has a fifty day moving average price of $48.22 and a two-hundred day moving average price of $47.90. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 1.88 and a beta of 1.06.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share 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 firm 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 firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

Zurn Elkay Water Solutions Cor Company 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.