State of Wyoming Boosts Stock Position in Zurn Elkay Water Solutions Cor $ZWS

State of Wyoming lifted its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1,462.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,860 shares of the company’s stock after buying an additional 19,525 shares during the quarter. State of Wyoming’s holdings in Zurn Elkay Water Solutions Cor were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after buying an additional 201,299 shares during the period. State Street Corp raised its stake in shares of Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after acquiring an additional 30,483 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after acquiring an additional 15,232 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Zurn Elkay Water Solutions Cor by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock valued at $120,515,000 after acquiring an additional 32,381 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 0.0%

Zurn Elkay Water Solutions Cor stock opened at $47.46 on Thursday. Zurn Elkay Water Solutions Cor has a 1-year low of $35.06 and a 1-year high of $53.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The stock has a market cap of $7.92 billion, a PE ratio of 38.28, a P/E/G ratio of 1.88 and a beta of 1.06. The stock’s fifty day moving average is $48.22 and its two-hundred day moving average is $47.90.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share 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 analysts’ expectations of $418.99 million. During the same period last year, the firm earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, May 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 currently 35.48%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ZWS shares. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird reduced 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. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note 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, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and a consensus price target of $54.88.

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.