Fisher Asset Management LLC Sells 40,195 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Fisher Asset Management trimmed its stake in Zurn Elkay Water Solutions by 40,195 shares in the fourth quarter, leaving it with 981,679 shares valued at about $45.6 million.
• Zurn Elkay Water Solutions reported better-than-expected quarterly results, with EPS of $0.41 versus $0.37 expected and revenue of $433 million, up 11.4% year over year.
• The company declared a quarterly dividend of $0.11 per share, while analysts currently rate the stock Moderate Buy with a consensus price target of $54.88.

Fisher Asset Management LLC decreased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 981,679 shares of the company's stock after selling 40,195 shares during the period. Fisher Asset Management LLC owned 0.59% of Zurn Elkay Water Solutions Cor worth $45,638,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in 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 valued at $37,000 after acquiring an additional 468 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $1,301,000. MQS Management LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 89.5% in the fourth quarter. MQS Management LLC now owns 11,384 shares of the company's stock valued at $529,000 after acquiring an additional 5,377 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $3,779,000. Finally, Handelsbanken Fonder AB boosted its holdings in Zurn Elkay Water Solutions Cor by 3.1% in the fourth quarter. Handelsbanken Fonder AB now owns 43,018 shares of the company's stock valued at $2,000,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $48.80 on Wednesday. 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 has a 1 year low of $35.06 and a 1 year high of $53.76. The stock has a market cap of $8.14 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. The stock's 50-day moving average price is $47.89 and its two-hundred day moving average price is $47.90.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $418.99 million. During the same quarter last year, the business earned $0.31 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 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 is Wednesday, May 20th. Zurn Elkay Water Solutions Cor's payout ratio is 35.48%.

Analyst Ratings Changes

Several research firms recently issued reports on ZWS. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Robert W. Baird reduced their target price on 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. Oppenheimer restated an "outperform" rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada raised their target price on 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of "Moderate Buy" and a consensus price target of $54.88.

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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