61,723 Shares in Zurn Elkay Water Solutions Cor $ZWS Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 61,723 shares of the company’s stock, valued at approximately $2,870,000.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. grew its stake 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 purchasing an additional 201,299 shares during the last quarter. State Street Corp grew its stake in shares of Zurn Elkay Water Solutions Cor by 0.6% in 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 grew its stake in shares of Zurn Elkay Water Solutions Cor by 0.4% in 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 last quarter. Alliancebernstein L.P. grew its stake 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 worth $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Zurn Elkay Water Solutions Cor by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $47.01 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.85 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The firm’s fifty day simple moving average is $48.05 and its two-hundred day simple moving average is $47.90. Zurn Elkay Water Solutions Cor has a 12 month low of $35.06 and a 12 month high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be paid a $0.11 dividend. The ex-dividend date 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 currently 35.48%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZWS. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Oppenheimer reaffirmed 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. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. 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 research report on Thursday, April 23rd. Finally, 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 research 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’s stock. Based on data from MarketBeat.com, the company currently has an average 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.