Quantbot Technologies LP Invests $4.99 Million in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Quantbot Technologies LP bought 98,709 shares of Zurn Elkay Water Solutions (ZWS) worth approximately $4.99 million, while institutional investors collectively own 83.33% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $57.22; several firms recently raised their targets to between $58 and $62.
• ZWS reported quarterly earnings of $0.50 per share, beating estimates of $0.47, while revenue rose 10.5% year over year to $491 million. The company also declared a quarterly dividend of $0.11 per share, yielding about 0.9% annually.

Quantbot Technologies LP purchased a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 98,709 shares of the company's stock, valued at approximately $4,988,000. Quantbot Technologies LP owned 0.06% of Zurn Elkay Water Solutions Cor at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ZWS. Andina Capital Management LLC grew its position in Zurn Elkay Water Solutions Cor by 1.6% during the 4th quarter. Andina Capital Management LLC now owns 12,618 shares of the company's stock worth $587,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. boosted its position in shares of 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 during the period. Assetmark Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock valued at $38,000 after buying an additional 292 shares in the last quarter. GAMMA Investing LLC raised its position in Zurn Elkay Water Solutions Cor by 9.8% during the second quarter. GAMMA Investing LLC now owns 3,708 shares of the company's stock valued at $187,000 after buying an additional 331 shares during the period. Finally, Osaic Holdings Inc. raised its position in Zurn Elkay Water Solutions Cor by 15.6% during the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock valued at $91,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 83.33% of the company's stock.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director owned 37,487 shares in the company, valued at $1,859,355.20. This represents a 5.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ZWS shares. 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 note on Friday, July 31st. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.22.

Zurn Elkay Water Solutions Cor Stock Up 0.6%

Shares of ZWS stock opened at $49.10 on Friday. The firm has a market cap of $8.14 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The stock has a 50 day moving average of $49.46 and a 200-day moving average of $48.83. 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 data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same quarter last year, the firm earned $0.42 EPS. Zurn Elkay Water Solutions Cor's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend 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%.

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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