Bridgefront Capital LLC Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Bridgefront Capital LLC purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,384 shares of the company’s stock, valued at approximately $959,000.

Several other large investors have also recently made changes to their positions in the company. California Public Employees Retirement System raised its stake in Zurn Elkay Water Solutions Cor by 21.3% in the 3rd quarter. California Public Employees Retirement System now owns 320,168 shares of the company’s stock valued at $15,058,000 after purchasing an additional 56,288 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the third quarter worth $61,000. Alliancebernstein L.P. raised its position in shares of 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 buying an additional 3,184,048 shares during the last quarter. Creative Planning lifted its stake in shares of Zurn Elkay Water Solutions Cor by 41.8% in the third quarter. Creative Planning now owns 81,911 shares of the company’s stock worth $3,852,000 after buying an additional 24,140 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Zurn Elkay Water Solutions Cor during the third quarter worth about $1,710,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $45.73 on Friday. The firm has a 50 day simple moving average of $48.57 and a 200-day simple moving average of $47.43. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $53.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus target price of $51.63.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 25,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the transaction, the director owned 266,864 shares of the company’s stock, valued at $13,658,099.52. This represents a 8.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sudhanshu Chhabra sold 2,021 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total value of $102,767.85. Following the transaction, the vice president owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 599,259 shares of company stock valued at $31,225,361. 2.60% of the stock is currently owned by company insiders.

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.