Bessemer Group Inc. Has $8.59 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Bessemer Group Inc. increased its stake in Zurn Elkay Water Solutions by 29.8% in the first quarter, ending with 191,600 shares valued at about $8.59 million.
• Zurn Elkay Water Solutions posted strong quarterly results, with earnings of $0.41 per share topping estimates and revenue rising 11.4% year over year to $433 million.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $55.33; the company also pays a quarterly dividend yielding about 0.9%.

Bessemer Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,600 shares of the company's stock after purchasing an additional 44,007 shares during the period. Bessemer Group Inc. owned 0.11% of Zurn Elkay Water Solutions Cor worth $8,591,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $35,000. Hantz Financial Services Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock worth $37,000 after buying an additional 468 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Zurn Elkay Water Solutions Cor by 507.5% during the 3rd quarter. Allworth Financial LP now owns 978 shares of the company's stock worth $46,000 after buying an additional 817 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $47.75 on Monday. The firm has a market capitalization of $7.97 billion, a P/E ratio of 38.50, a P/E/G ratio of 1.89 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 52 week low of $36.59 and a 52 week high of $53.76. The stock has a 50 day moving average price of $48.43 and a two-hundred day moving average price of $48.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same quarter last year, the company earned $0.31 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is 35.48%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada raised their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a "sector perform" rating in a report on Thursday, April 23rd. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Robert W. Baird dropped their price objective on shares of 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. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.33.

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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