Global Alpha Capital Management Ltd. Sells 41,700 Shares of Zurn Elkay Water Solutions Cor $ZWS

Global Alpha Capital Management Ltd. cut its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,242 shares of the company’s stock after selling 41,700 shares during the quarter. Global Alpha Capital Management Ltd.’s holdings in Zurn Elkay Water Solutions Cor were worth $3,126,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp lifted its position in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after purchasing an additional 15,232 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZWS shares. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. 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. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Robert W. Baird decreased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.35 on Friday. The firm has a market cap of $7.90 billion, a P/E ratio of 38.19, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $35.06 and a 12 month high of $53.76. The stock’s fifty day moving average price is $48.28 and its 200-day moving average price is $47.91.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business’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 earnings per share. On average, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

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.