98,709 Shares in Zurn Elkay Water Solutions Cor $ZWS Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, according to its most recent filing with the SEC. The firm acquired 98,709 shares of the company’s stock, valued at approximately $4,988,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kilter Group LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth $25,000. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new position in Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $35,000. Hantz Financial Services Inc. increased its position 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 worth $37,000 after purchasing an additional 468 shares during the period. Finally, Assetmark Inc. increased its position in Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Trading Up 0.6%

Shares of NYSE ZWS opened at $49.10 on Friday. Zurn Elkay Water Solutions Cor has a twelve month low of $43.06 and a twelve month high of $55.00. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $49.46 and its 200-day moving average is $48.83.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a 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 Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler purchased 2,016 shares of the stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.22.

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.