Zurn Elkay Water Solutions Cor $ZWS Position Raised by Future Fund LLC

Future Fund LLC boosted its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,574 shares of the company’s stock after purchasing an additional 10,503 shares during the period. Future Fund LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth $111,341,000. First Trust Advisors LP lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after buying an additional 1,128,917 shares during the period. Goldman Sachs Group Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 78.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after buying an additional 399,180 shares in the last quarter. UBS Group AG boosted its stake in Zurn Elkay Water Solutions Cor by 157.0% during the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after buying an additional 292,747 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 18,251.2% during the fourth quarter. Federated Hermes Inc. now owns 280,223 shares of the company’s stock worth $13,028,000 after acquiring an additional 278,696 shares during the period. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 1.3%

NYSE:ZWS opened at $47.75 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 1-year low of $36.59 and a 1-year high of $53.76. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The stock has a fifty day simple moving average of $48.43 and a 200 day simple moving average of $48.23.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping 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 firm had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. During the same quarter last year, the business posted $0.31 EPS. Zurn Elkay Water Solutions Cor’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of research analyst reports. Barclays started coverage on shares of Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird reduced their target price on shares of 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. Five 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.33.

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.