Algert Global LLC Boosts Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Algert Global increased its Zurn Elkay Water Solutions stake by 51.5% in the second quarter, bringing its holdings to 169,860 shares valued at approximately $8.6 million. Institutional investors collectively own 83.33% of the company.
• Analysts remain generally positive, with an average “Moderate Buy” rating and a consensus price target of $57.22. Stifel raised its target to $62, while Zacks upgraded the stock to “Strong Buy.”
• Zurn Elkay beat quarterly expectations with earnings of $0.50 per share versus $0.47 expected and revenue of $491 million, up 10.5% year over year. The company also declared a quarterly dividend of $0.11 per share, equal to a 0.9% annual yield.

Algert Global LLC grew its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 51.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,860 shares of the company's stock after acquiring an additional 57,720 shares during the quarter. Algert Global LLC owned 0.10% of Zurn Elkay Water Solutions Cor worth $8,583,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ZWS. Kilter Group LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $25,000. Advisory Services Network LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth $35,000. Finally, Hantz Financial Services Inc. grew its holdings 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 acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 83.33% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ZWS shares. Robert W. Baird set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Finally, Stifel Nicolaus boosted 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. 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.22.

Insider Buying and Selling

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

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $49.13 on Thursday. The business's 50 day moving average price is $49.47 and its 200-day moving average price is $48.82. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The company has a market cap of $8.15 billion, a P/E ratio of 30.33, a P/E/G ratio of 1.79 and a beta of 1.04. 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 posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analysts' expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued 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 27.16%.

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.

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