Healthcare of Ontario Pension Plan Trust Fund Invests $7.11 Million in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 158,655 Zurn Elkay Water Solutions shares valued at approximately $7.11 million, while institutional investors collectively own 83.33% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating, with five Buy and four Hold ratings and an average price target of $55.56.
• Zurn Elkay exceeded quarterly expectations, reporting $0.50 EPS and $491 million in revenue, up 10.5% year over year. The company also declared a quarterly dividend of $0.11 per share, representing a 0.9% annualized yield.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 158,655 shares of the company's stock, valued at approximately $7,114,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Zurn Elkay Water Solutions Cor at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ZWS. Andina Capital Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company's stock valued at $587,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. increased its position in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company's stock worth $57,000 after buying an additional 240 shares in the last quarter. Assetmark Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after buying an additional 292 shares during the period. Osaic Holdings Inc. raised its stake 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 buying an additional 341 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company's stock valued at $4,924,000 after buying an additional 353 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ZWS shares. Robert W. Baird reduced their target price 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. Royal Bank Of Canada lifted their price target 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Moderate Buy" and an average target price of $55.56.

Zurn Elkay Water Solutions Cor Stock Up 4.9%

NYSE ZWS opened at $51.74 on Thursday. Zurn Elkay Water Solutions Cor has a 12 month low of $41.48 and a 12 month high of $55.00. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.63 billion, a PE ratio of 31.94, a P/E/G ratio of 1.95 and a beta of 1.04. The stock's 50 day moving average is $48.42 and its 200 day moving average is $48.35.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.17%. The company's revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, August 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.

Want to see what other hedge funds are holding ZWS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.