Legal & General Group Plc Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS

Legal & General Group Plc bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 796,834 shares of the company’s stock, valued at approximately $40,264,000.

A number of other hedge funds have also modified their holdings of the company. Kilter Group LLC bought a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $27,000. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter worth $35,000. Finally, Hantz Financial Services Inc. boosted its position in shares of 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 purchasing an additional 468 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $48.08 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The stock’s 50-day moving average is $49.40 and its 200-day moving average is $48.79. Zurn Elkay Water Solutions Cor has a one year low of $43.06 and a one year high of $55.00.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 27.16%.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler acquired 2,016 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $49.60 per share, with a total value of $99,993.60. Following the completion of the transaction, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ZWS. Barclays raised their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Finally, Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and an average target price of $57.22.

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.