Jupiter Topco LLC Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Jupiter Topco LLC bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,409,405 shares of the company’s stock, valued at approximately $172,287,000. Jupiter Topco LLC owned 2.06% of Zurn Elkay Water Solutions Cor at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZWS. Kilter Group LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth $25,000. Advisory Services Network LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. grew its position in Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after buying an additional 468 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Barclays lifted their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Royal Bank Of Canada lifted their price target on shares of 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, July 30th. Finally, Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.22.

Zurn Elkay Water Solutions Cor Stock Up 0.6%

Shares of ZWS opened at $49.13 on Thursday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $49.47 and a two-hundred day moving average price of $48.82. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.79 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 27.16%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Donavon Butler acquired 2,016 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

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.