WINTON GROUP Ltd Buys Shares of 135,627 Zurn Elkay Water Solutions Cor $ZWS

Key Points

• WINTON GROUP Ltd disclosed a new stake in Zurn Elkay Water Solutions, buying 135,627 shares worth about $6.3 million in the fourth quarter. The position represented 0.08% of the company.
• Wall Street sentiment is mixed but broadly positive, with analysts giving ZWS a Moderate Buy rating and an average price target of $54.88. Recent target updates ranged from $53 to $58.
• The company reported strong quarterly results, including EPS of $0.41 versus $0.37 expected and revenue of $433 million, up 11.4% year over year. Zurn also paid a quarterly dividend of $0.11 per share, implying a 0.9% yield.

WINTON GROUP Ltd bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 135,627 shares of the company's stock, valued at approximately $6,305,000. WINTON GROUP Ltd owned 0.08% of Zurn Elkay Water Solutions Cor at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ZWS. Advisory Services Network LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at $26,000. Fifth Third Bancorp raised its stake in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company's stock valued at $36,000 after buying an additional 256 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company's stock valued at $37,000 after buying an additional 468 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company's stock valued at $46,000 after buying an additional 817 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada boosted their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a "sector perform" rating in a research note on Thursday, April 23rd. Oppenheimer reiterated an "outperform" rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of "Moderate Buy" and an average price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $47.35 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a 52-week low of $35.06 and a 52-week high of $53.76. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 1.87 and a beta of 1.06. The business's fifty day moving average is $48.28 and its 200 day moving average is $47.91.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same period in the previous year, the company posted $0.31 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.48%.

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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