State of Wyoming Boosts Stock Position in Zurn Elkay Water Solutions Cor $ZWS

State of Wyoming grew its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1,462.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,860 shares of the company’s stock after purchasing an additional 19,525 shares during the period. State of Wyoming’s holdings in Zurn Elkay Water Solutions Cor were worth $970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its position in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of 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 purchasing an additional 468 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after purchasing an additional 817 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Up 0.0%

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.46 on Thursday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 1.88 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a fifty-two week low of $35.06 and a fifty-two week high of $53.76. 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 stock has a 50 day moving average of $48.22 and a 200 day moving average of $47.90.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate 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 business had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. During the same period last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 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 is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZWS shares. Royal Bank Of Canada increased their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.88.

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.