162,382 Shares in Zurn Elkay Water Solutions Cor $ZWS Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 162,382 Zurn Elkay Water Solutions shares worth approximately $8.2 million in the second quarter, while institutional investors collectively owned 83.33% of the company.
• Zurn Elkay exceeded quarterly expectations, reporting $0.50 EPS versus a $0.47 estimate and $491 million in revenue, up 10.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $57.22.
• The company declared a quarterly dividend of $0.11 per share, equivalent to $0.44 annually and a 0.9% yield; shares opened at $49.10 and have traded between $43.06 and $55.00 over the past year.

Deutsche Bank AG acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 162,382 shares of the company's stock, valued at approximately $8,205,000. Deutsche Bank AG owned approximately 0.10% of Zurn Elkay Water Solutions Cor at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Simplicity Wealth LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $368,000. Global Retirement Partners LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $151,000. Bank of New York Mellon Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $55,207,000. State of Wyoming acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $264,000. Finally, S&CO Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $404,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler purchased 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the acquisition, the director owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

ZWS has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Barclays raised their target price 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. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. One 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 stock. According to MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of "Moderate Buy" and an average price target of $57.22.

Zurn Elkay Water Solutions Cor Trading Up 0.2%

ZWS opened at $49.10 on Monday. Zurn Elkay Water Solutions Cor has a one year low of $43.06 and a one year high of $55.00. The stock has a market capitalization of $8.14 billion, a PE ratio of 30.31, a P/E/G ratio of 1.85 and a beta of 1.04. The business's 50 day moving average price is $49.46 and its 200 day moving average price is $48.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $491.00 million during 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 firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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 issued a dividend of $0.11 per share. The ex-dividend date 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 currently 27.16%.

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.

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