Sei Investments Co. Raises Position in Zurn Elkay Water Solutions Cor $ZWS

Sei Investments Co. increased its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,631 shares of the company’s stock after purchasing an additional 26,573 shares during the period. Sei Investments Co. owned 0.15% of Zurn Elkay Water Solutions Cor worth $11,149,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Zurn Elkay Water Solutions Cor by 3.5% in the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after acquiring an additional 201,299 shares during the last quarter. State Street Corp increased its position in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Geode Capital Management LLC raised its stake in Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after purchasing an additional 15,232 shares during the period. First Trust Advisors LP raised its stake in Zurn Elkay Water Solutions Cor by 51.9% during the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock worth $153,591,000 after purchasing an additional 1,128,917 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company’s stock valued at $127,787,000 after purchasing an additional 162,065 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $50.56 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $8.39 billion, a PE ratio of 31.21, a P/E/G ratio of 1.91 and a beta of 1.04. The company’s fifty day simple moving average is $48.52 and its 200-day simple moving average is $48.40. Zurn Elkay Water Solutions Cor has a 52 week low of $42.39 and a 52 week high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.81 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.11 per share. 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 payout ratio is currently 27.16%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ZWS shares. Barclays boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer reissued an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Finally, Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

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.