PDT Partners LLC Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS

PDT Partners LLC acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, HoldingsChannel.com reports. The fund acquired 113,666 shares of the company’s stock, valued at approximately $5,744,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kilter Group LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth $25,000. Advisory Services Network LLC purchased a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at $35,000. Finally, Hantz Financial Services Inc. raised its stake in Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after buying an additional 468 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $48.98 on Wednesday. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The firm has a market capitalization of $8.12 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The company’s fifty day moving average price is $49.45 and its 200 day moving average price is $48.84.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued 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 is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 27.16%.

Insider Activity

In other news, Director Jacques Donavon Butler bought 2,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, with a total value of $99,993.60. Following the transaction, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Barclays boosted their target price on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and an average price target 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.