Man Group plc Buys New Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Man Group plc acquired 126,166 shares of Zurn Elkay Water Solutions, valued at approximately $6.4 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 83.33% of the company.
• Zurn Elkay reported quarterly earnings of $0.50 per share, beating estimates by $0.03, while revenue rose 10.5% year over year to $491 million. The company also declared a quarterly dividend of $0.11 per share, representing an annualized yield of 0.9%.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $57.22, above the reported share price of $48.08.

Man Group plc bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 126,166 shares of the company's stock, valued at approximately $6,375,000. Man Group plc owned 0.08% of Zurn Elkay Water Solutions Cor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ZWS. Kilter Group LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock worth $37,000 after acquiring an additional 468 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Down 1.0%

Shares of NYSE ZWS opened at $48.08 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00. The firm has a fifty day moving average of $49.40 and a 200-day moving average of $48.79. The stock has a market capitalization of $7.97 billion, a PE ratio of 29.68, a P/E/G ratio of 1.76 and a beta of 1.04. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm had revenue of $491.00 million for the quarter, compared to analysts' expectations of $483.04 million. During the same period in the previous year, the company posted $0.42 earnings per share. Zurn Elkay Water Solutions Cor's revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 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 is currently 27.16%.

Insider Buying and Selling

In related news, Director Jacques Donavon Butler acquired 2,016 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, with a total value of $99,993.60. Following the acquisition, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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