38,457 Shares in Zurn Elkay Water Solutions Cor $ZWS Bought by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management purchased 38,457 shares of Zurn Elkay Water Solutions, valued at approximately $1.724 million. Institutional investors and hedge funds own 83.33% of the company.
• Zurn Elkay reported quarterly EPS of $0.50, beating estimates of $0.47, while revenue rose 10.5% year over year to $491 million. The company also declared a quarterly dividend of $0.11 per share, representing a 0.9% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $55 versus the stock’s reported price of $49.16.

Smith Group Asset Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 38,457 shares of the company's stock, valued at approximately $1,724,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth $35,000. Hantz Financial Services Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 138.9% in 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. Finally, Assetmark Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after purchasing an additional 292 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Trading Up 0.8%

ZWS stock opened at $49.16 on Wednesday. Zurn Elkay Water Solutions Cor has a one year low of $37.90 and a one year high of $53.76. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.04. The company has a fifty day moving average price of $48.34 and a two-hundred day moving average price of $48.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results 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. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $491.00 million during the quarter, compared to analysts' expectations of $483.09 million. During the same quarter last year, the company posted $0.42 EPS. Zurn Elkay Water Solutions Cor's quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced 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. 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 (DPR) is 35.48%.

Analysts Set New Price Targets

Several brokerages have commented on ZWS. Stifel Nicolaus cut their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Robert W. Baird dropped their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Barclays initiated coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They set an "overweight" rating and a $59.00 price target for the company. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada increased their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a "sector perform" rating in a report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.00.

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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