Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new position in Zurn Elkay Water Solutions, buying 81,292 shares worth about $3.78 million in the fourth quarter.
• The company reported strong quarterly results, with EPS of $0.41 beating estimates and revenue of $433 million topping expectations; revenue also rose 11.4% year over year.
• Analyst sentiment is mixed but constructive, with a Moderate Buy consensus and an average price target of $54.88, while the stock recently traded up 3.1%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,292 shares of the company's stock, valued at approximately $3,779,000.

Several other institutional investors have also modified their holdings of the company. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions Cor in the 4th quarter worth about $26,000. Fifth Third Bancorp grew its position in Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company's stock worth $36,000 after purchasing an additional 256 shares during the last quarter. Covestor Ltd increased its stake in shares of Zurn Elkay Water Solutions Cor by 180.3% in the third quarter. Covestor Ltd now owns 967 shares of the company's stock valued at $46,000 after purchasing an additional 622 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company's stock valued at $46,000 after purchasing an additional 817 shares during the period. Institutional investors own 83.33% of the company's stock.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer restated an "outperform" rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Stifel Nicolaus lifted their target price 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. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Robert W. Baird cut 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 research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Moderate Buy" and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Trading Up 3.1%

Zurn Elkay Water Solutions Cor stock opened at $47.82 on Thursday. Zurn Elkay Water Solutions Cor has a 12-month low of $35.06 and a 12-month high of $53.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The stock has a market capitalization of $7.98 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The firm has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $47.88.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $433.00 million for the quarter, compared to analysts' expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 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 of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor's payout ratio is currently 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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