Global Alpha Capital Management Ltd. Trims Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Global Alpha Capital Management cut its stake in Zurn Elkay Water Solutions by 38.3% in the fourth quarter, selling 41,700 shares and leaving it with 67,242 shares valued at about $3.13 million.
• Institutional ownership in ZWS remains high, with several other hedge funds making notable moves; overall, 83.33% of the stock is owned by hedge funds and other institutional investors.
• Zurn Elkay reported better-than-expected quarterly results, posting $0.41 EPS on $433 million in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $54.88.

Global Alpha Capital Management Ltd. trimmed its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 38.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,242 shares of the company's stock after selling 41,700 shares during the quarter. Global Alpha Capital Management Ltd.'s holdings in Zurn Elkay Water Solutions Cor were worth $3,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZWS. Alliancebernstein L.P. increased its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company's stock worth $158,478,000 after acquiring an additional 3,184,048 shares in the last quarter. Norges Bank purchased a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter valued at approximately $111,341,000. Goldman Sachs Group Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 78.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company's stock valued at $42,161,000 after buying an additional 399,180 shares in the last quarter. MAI Capital Management grew its holdings in Zurn Elkay Water Solutions Cor by 120,771.6% during the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company's stock valued at $13,814,000 after buying an additional 293,475 shares in the last quarter. Finally, UBS Group AG grew its holdings in Zurn Elkay Water Solutions Cor by 157.0% during the 3rd quarter. UBS Group AG now owns 479,166 shares of the company's stock valued at $22,535,000 after buying an additional 292,747 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of research analyst reports. Royal Bank Of Canada increased 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 report on Thursday, April 23rd. Stifel Nicolaus increased 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 report 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 report on Wednesday, April 29th. 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 for the company in a report on Thursday, April 23rd. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

Shares of ZWS opened at $47.35 on Friday. The company has a market cap of $7.90 billion, a PE ratio of 38.19, a P/E/G ratio of 1.87 and a beta of 1.06. The business has a fifty day moving average of $48.28 and a 200 day moving average of $47.91. Zurn Elkay Water Solutions Cor has a 52-week low of $35.06 and a 52-week high of $53.76. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly 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. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.Zurn Elkay Water Solutions Cor's revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. On average, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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