Janus Henderson Group PLC Has $148.14 Million Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Janus Henderson reduced its Zurn Elkay Water Solutions position by 13.3% in the first quarter, selling 507,134 shares. It still held 3.3 million shares worth approximately $148.1 million, while institutional investors and hedge funds owned 83.33% of the stock.
• Zurn Elkay reported quarterly EPS of $0.50, exceeding the $0.47 consensus estimate, while revenue of $491 million also topped expectations and increased 10.5% year over year.
• The company declared a quarterly dividend of $0.11 per share, equal to a 0.9% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $57.22, above the reported share price of $50.56.

Janus Henderson Group PLC cut its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 13.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,303,293 shares of the company's stock after selling 507,134 shares during the period. Janus Henderson Group PLC owned about 1.98% of Zurn Elkay Water Solutions Cor worth $148,142,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ZWS. Andina Capital Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 1.6% in the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company's stock worth $587,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. increased its holdings in Zurn Elkay Water Solutions Cor by 24.2% in the 4th quarter. UMB Bank n.a. now owns 1,233 shares of the company's stock valued at $57,000 after buying an additional 240 shares during the period. Assetmark Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company's stock valued at $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 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock valued at $91,000 after buying an additional 341 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Zurn Elkay Water Solutions Cor by 0.3% in 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 currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS opened at $50.56 on Friday. The business has a fifty day moving average of $48.52 and a 200-day moving average of $48.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.11 and a current ratio of 3.05. Zurn Elkay Water Solutions Cor has a twelve month low of $42.39 and a twelve month high of $55.00. The firm has a market cap of $8.39 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.81 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 27.16%.

Wall Street Analyst Weigh In

ZWS has been the topic of several recent research reports. Barclays lifted their target price on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.22.

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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