GLOBALT Investments LLC GA Buys New Stake in Zurn Elkay Water Solutions Cor $ZWS

GLOBALT Investments LLC GA bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,518 shares of the company’s stock, valued at approximately $777,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. Whittier Trust Co. purchased a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter valued at about $26,000. CWM LLC grew its position in Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after acquiring an additional 454 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Zurn Elkay Water Solutions Cor by 377.7% during the third quarter. Farther Finance Advisors LLC now owns 1,863 shares of the company’s stock worth $88,000 after purchasing an additional 1,473 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $80,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 0.3%

Shares of NYSE ZWS opened at $47.95 on Thursday. The business has a 50-day moving average of $46.98 and a two-hundred day moving average of $43.95. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, November 20th. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. 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 is 39.29%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the transaction, the director owned 162,000 shares in the company, valued at approximately $7,695,000. This represents a 4.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 20,100 shares of company stock worth $960,105. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 15th. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

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.