Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Fiera Capital Corp

Key Points

• Fiera Capital Corp increased its stake in Zurn Elkay Water Solutions by 25.3% in the fourth quarter, ending with 142,327 shares worth about $6.6 million.
• Zurn Elkay Water Solutions reported better-than-expected quarterly results, posting $0.41 EPS on $433 million in revenue, both above analyst estimates, with revenue up 11.4% year over year.
• Analysts currently have a mixed but mostly positive view on the stock, with an average rating of “Moderate Buy” and a consensus price target of $54.88, while shares were trading around $48.35.

Fiera Capital Corp lifted its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,327 shares of the company's stock after acquiring an additional 28,708 shares during the period. Fiera Capital Corp owned about 0.09% of Zurn Elkay Water Solutions Cor worth $6,617,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company's stock worth $36,000 after buying an additional 256 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 15.6% in 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. California State Teachers Retirement System lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% in the second quarter. California State Teachers Retirement System now owns 134,647 shares of the company's stock valued at $4,924,000 after buying an additional 353 shares during the period. Thrive Wealth Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 4.4% in the fourth quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company's stock valued at $423,000 after buying an additional 381 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,025 shares of the company's stock valued at $1,582,000 after buying an additional 400 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. Robert W. Baird cut their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a "sector perform" rating in a report on Thursday, April 23rd. Finally, Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $54.88.

Zurn Elkay Water Solutions Cor Trading Up 2.4%

Shares of NYSE ZWS opened at $48.35 on Wednesday. Zurn Elkay Water Solutions Cor has a 12 month low of $35.06 and a 12 month high of $53.76. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $48.41 and a 200-day simple moving average of $47.96.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.Zurn Elkay Water Solutions Cor's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.48%.

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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