Edgestream Partners L.P. Invests $1.19 Million in Zurn Elkay Water Solutions Cor $ZWS

Edgestream Partners L.P. acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,508 shares of the company’s stock, valued at approximately $1,189,000.

Several other institutional investors have also recently bought and sold shares of ZWS. Azzad Asset Management Inc. ADV bought a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $1,205,000. Allspring Global Investments Holdings LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 73.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after purchasing an additional 55,490 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth $2,870,000. WINTON GROUP Ltd acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $6,305,000. Finally, SG Americas Securities LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 53.5% during the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock worth $2,023,000 after purchasing an additional 15,735 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE ZWS opened at $51.15 on Tuesday. The firm has a market capitalization of $8.48 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $48.58 and its two-hundred day moving average price is $48.45. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced 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 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%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 27.16%.

Analysts Set New Price Targets

Several brokerages have issued reports on ZWS. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada increased their price objective 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 note on Thursday, July 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Barclays upped their target price on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

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.