Fort Washington Investment Advisors Inc. OH Buys 100,090 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Fort Washington Investment Advisors increased its stake in Zurn Elkay Water Solutions by 25.2% in the first quarter, buying 100,090 more shares and bringing its total holding to 496,639 shares valued at about $22.3 million.
• Zurn Elkay Water Solutions reported strong quarterly results, with EPS of $0.41 beating estimates and revenue of $433 million rising 11.4% year over year.
• The company also paid a quarterly dividend of $0.11 per share, while analysts currently hold a consensus rating of Moderate Buy with an average price target of $54.88.

Fort Washington Investment Advisors Inc. OH lifted its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,639 shares of the company's stock after buying an additional 100,090 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.30% of Zurn Elkay Water Solutions Cor worth $22,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $35,000. Hantz Financial Services Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock valued at $37,000 after purchasing an additional 468 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Zurn Elkay Water Solutions Cor by 507.5% during 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.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $50.90 on Monday. 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 has a fifty-two week low of $35.73 and a fifty-two week high of $53.76. The firm has a market cap of $8.49 billion, a P/E ratio of 41.05, a P/E/G ratio of 2.01 and a beta of 1.06. The business's 50 day moving average price is $49.15 and its 200-day moving average price is $48.15.

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, 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 during the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZWS shares. 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. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Robert W. Baird cut their price target 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. Oppenheimer reissued an "outperform" rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a "sector perform" rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.88.

Zurn Elkay Water Solutions Cor 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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