Crescent Grove Advisors LLC Decreases Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Crescent Grove Advisors cut its Zurn Elkay Water Solutions stake by 4.5% in the fourth quarter, but ZWS remains its largest holding at 10% of the portfolio, worth about $108.1 million.
• Wall Street sentiment is mixed but constructive: the stock has four Buy ratings and four Hold ratings, with a consensus “Moderate Buy” target price of $54.88.
• Zurn Elkay reported solid quarterly results, beating EPS and revenue estimates with $0.41 EPS and $433 million in revenue, while also announcing a quarterly dividend of $0.11 per share.

Crescent Grove Advisors LLC lowered its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,324,647 shares of the company's stock after selling 110,800 shares during the period. Zurn Elkay Water Solutions Cor makes up 10.0% of Crescent Grove Advisors LLC's holdings, making the stock its biggest holding. Crescent Grove Advisors LLC owned 1.39% of Zurn Elkay Water Solutions Cor worth $108,073,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company's stock worth $36,000 after purchasing an additional 256 shares during the period. Osaic Holdings Inc. increased its position in shares of Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock worth $91,000 after purchasing an additional 341 shares during the period. California State Teachers Retirement System increased its position in shares of Zurn Elkay Water Solutions Cor by 0.3% in the second quarter. California State Teachers Retirement System now owns 134,647 shares of the company's stock worth $4,924,000 after purchasing an additional 353 shares during the period. Thrive Wealth Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 4.4% in the fourth quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company's stock worth $423,000 after purchasing an additional 381 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Zurn Elkay Water Solutions Cor by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,025 shares of the company's stock worth $1,582,000 after purchasing an additional 400 shares during the period. Institutional investors own 83.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on 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. Oppenheimer reaffirmed an "outperform" rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Robert W. Baird reduced their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. Finally, UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.88.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $47.46 on Thursday. The business's 50-day moving average price is $48.22 and its 200-day moving average price is $47.90. Zurn Elkay Water Solutions Cor has a 12 month low of $35.06 and a 12 month high of $53.76. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 1.88 and a beta of 1.06. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS 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 firm had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same period last year, the firm posted $0.31 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 35.48%.

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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