Robeco Institutional Asset Management B.V. Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Robeco Institutional Asset Management bought a new position in Zurn Elkay Water Solutions (NYSE:ZWS) in Q4 — acquiring 24,041 shares valued at about $1.12 million; institutional investors now own about 83.33% of the company.
• Zurn Elkay beat Q4 estimates with $0.36 EPS vs. $0.34 expected and revenue of $407.2M (up 9.8% YoY$8.02 billion and a P/E of about 41.6.
• Company insiders have been net sellers — 599,259 shares sold (~$31.2M) over the last 90 days — while ZWS pays a quarterly dividend of $0.11 (annualized $0.44, 0.9% yield) and carries a consensus analyst rating of “Moderate Buy” with a $54 price target.

Robeco Institutional Asset Management B.V. acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,041 shares of the company's stock, valued at approximately $1,118,000.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $26,000. Fifth Third Bancorp increased its stake in shares of Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company's stock valued at $36,000 after acquiring an additional 256 shares in the last quarter. First Horizon Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $45,000. Finally, Covestor Ltd increased its stake in shares of Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company's stock valued at $46,000 after acquiring an additional 622 shares in the last quarter. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $47.86 on Friday. The company has a fifty day simple moving average of $47.88 and a 200 day simple moving average of $47.33. Zurn Elkay Water Solutions Cor has a 12-month low of $29.39 and a 12-month high of $53.17. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.02 billion, a P/E ratio of 41.62, a PEG ratio of 1.94 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. During the same quarter last year, the firm posted $0.32 EPS. Zurn Elkay Water Solutions Cor's revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor's payout ratio is currently 38.26%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZWS. Robert W. Baird set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, February 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Stifel Nicolaus reduced their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $395,700.20. Following the transaction, the chief financial officer directly owned 66,807 shares of the company's stock, valued at $3,460,602.60. The trade was a 10.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 25,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the transaction, the director directly owned 266,864 shares in the company, valued at $13,658,099.52. This represents a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 599,259 shares of company stock worth $31,225,361. Company insiders own 2.40% of the company's stock.

Zurn Elkay Water Solutions Cor 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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