Arkadios Wealth Advisors Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Arkadios Wealth Advisors initiated a $2.08 million position in Zurn Elkay Water Solutions, while institutional investors collectively own 83.33% of the company.
• Zurn Elkay reported quarterly EPS of $0.50, beating estimates by $0.03, while revenue rose 10.5% year over year to $491 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $57.22, and the company declared a quarterly dividend of $0.11 per share.

Arkadios Wealth Advisors purchased a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,301 shares of the company's stock, valued at approximately $2,076,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Azzad Asset Management Inc. ADV purchased a new position in shares of Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $1,205,000. Allspring Global Investments Holdings LLC grew its stake in Zurn Elkay Water Solutions Cor by 73.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company's stock worth $6,129,000 after acquiring an additional 55,490 shares during the period. Kingsview Wealth Management LLC acquired a new position in Zurn Elkay Water Solutions Cor in the 4th quarter valued at $2,870,000. WINTON GROUP Ltd purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $6,305,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 53.5% during the 1st quarter. SG Americas Securities LLC now owns 45,125 shares of the company's stock worth $2,023,000 after acquiring an additional 15,735 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $50.56 on Monday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $42.39 and a fifty-two week high of $55.00. The business has a 50 day moving average price of $48.52 and a two-hundred day moving average price of $48.41. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.39 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the company posted $0.42 EPS. Zurn Elkay Water Solutions Cor's quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts expect 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 business 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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is 27.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ZWS shares. Oppenheimer restated an "outperform" rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Barclays lifted their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Royal Bank Of Canada increased their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Stifel Nicolaus increased 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. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.

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