Concurrent Investment Advisors LLC Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Concurrent Investment Advisors LLC purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 4th quarter, Holdings Channel reports. The fund purchased 11,845 shares of the company’s stock, valued at approximately $551,000.

Several other institutional investors also recently added to or reduced their stakes in ZWS. Advisory Services Network LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 4th quarter worth about $26,000. Fifth Third Bancorp increased its stake in Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares during the period. First Horizon Corp purchased a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth about $45,000. Finally, Covestor Ltd increased its stake in Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after buying an additional 622 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Down 0.1%

NYSE ZWS opened at $51.25 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. The company’s 50-day simple moving average is $47.85 and its two-hundred day simple moving average is $47.63. Zurn Elkay Water Solutions Cor has a one year low of $33.95 and a one year high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend 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 35.48%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. The Goldman Sachs Group reaffirmed 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. 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. Stifel Nicolaus raised their price target 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. Finally, Royal Bank Of Canada raised their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Four equities research 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, the stock has an average rating of “Moderate Buy” and an average price target of $54.88.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Jeffrey J. Lavalle sold 6,097 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $315,824.60. Following the transaction, the vice president owned 49,803 shares of the company’s stock, valued at approximately $2,579,795.40. This trade represents a 10.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the transaction, the director directly owned 266,864 shares in the company, valued at $13,658,099.52. This trade represents a 8.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 599,259 shares of company stock worth $31,225,361. 2.40% of the stock is currently owned by company insiders.

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.