126,166 Shares in Zurn Elkay Water Solutions Cor $ZWS Acquired by Man Group plc

Man Group plc acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, HoldingsChannel reports. The firm acquired 126,166 shares of the company’s stock, valued at approximately $6,375,000.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $1,241,345,000. Jupiter Topco LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $172,287,000. Norges Bank acquired a new position in shares of Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $111,341,000. First Trust Advisors LP raised its holdings 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 in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth approximately $55,207,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZWS shares. Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Barclays raised their price target 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. Finally, Royal Bank Of Canada lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.22.

Zurn Elkay Water Solutions Cor Trading Down 1.0%

Shares of ZWS opened at $48.08 on Friday. The stock has a market cap of $7.97 billion, a PE ratio of 29.68, a PEG ratio of 1.76 and a beta of 1.04. The stock has a 50 day simple moving average of $49.40 and a 200-day simple moving average of $48.79. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million for 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 revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business 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 $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 27.16%.

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.