NewEdge Wealth LLC Invests $4.36 Million in Zurn Elkay Water Solutions Cor $ZWS

NewEdge Wealth LLC purchased a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 86,222 shares of the company’s stock, valued at approximately $4,357,000. NewEdge Wealth LLC owned about 0.05% of Zurn Elkay Water Solutions Cor at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Andina Capital Management LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock worth $587,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Zurn Elkay Water Solutions Cor by 24.2% in the 4th quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock valued at $57,000 after purchasing an additional 240 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after purchasing an additional 292 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 worth $187,000 after purchasing an additional 331 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of 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 worth $91,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Up 0.6%

Shares of ZWS opened at $49.49 on Thursday. Zurn Elkay Water Solutions Cor has a twelve month low of $43.06 and a twelve month high of $55.00. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.21 billion, a P/E ratio of 30.55, a PEG ratio of 1.86 and a beta of 1.04. The firm’s 50-day moving average is $49.43 and its two-hundred day moving average is $48.81.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. On average, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 27.16%.

Analysts Set New Price Targets

Several brokerages have issued reports on ZWS. The Goldman Sachs Group reissued 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. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research note 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 report on Friday, July 31st. Barclays raised their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.22.

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.