PDT Partners LLC Invests $5.74 Million in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• PDT Partners acquired 113,666 ZWS shares worth approximately $5.74 million, giving it a 0.07% stake. Institutional investors collectively own 83.33% of the company.
• Zurn Elkay exceeded quarterly expectations, reporting $0.50 in EPS versus the $0.47 consensus and $491 million in revenue, up 10.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $57.22, while the company declared a quarterly dividend of $0.11 per share, yielding about 0.9% annually.

PDT Partners LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 113,666 shares of the company's stock, valued at approximately $5,744,000. PDT Partners LLC owned about 0.07% of Zurn Elkay Water Solutions Cor at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Andina Capital Management LLC boosted its stake 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 worth $587,000 after buying an additional 200 shares during the period. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 240 shares during the period. Assetmark Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after acquiring an additional 292 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,708 shares of the company's stock worth $187,000 after acquiring an additional 331 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock worth $91,000 after purchasing an additional 341 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $48.98 on Wednesday. The company has a market cap of $8.12 billion, a P/E ratio of 30.24, a PEG ratio of 1.86 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $49.45 and its 200 day moving average price is $48.84.

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 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $491.00 million during the quarter, compared to analysts' expectations 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 revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share 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. Investors of record on Thursday, August 20th will be issued a $0.11 dividend. The ex-dividend date 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 (DPR) is 27.16%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZWS. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.22.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Donavon Butler bought 2,016 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company's stock, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company's stock.

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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