Fisher Asset Management LLC Sells 40,195 Shares of Zurn Elkay Water Solutions Cor $ZWS

Fisher Asset Management LLC lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 981,679 shares of the company’s stock after selling 40,195 shares during the period. Fisher Asset Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $45,638,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ZWS. Alliancebernstein L.P. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 120,771.6% during the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after purchasing an additional 293,475 shares in the last quarter. UBS Group AG lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 157.0% during the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after purchasing an additional 292,747 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $12,510,000. Finally, Invesco Ltd. lifted its stake in Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after acquiring an additional 201,299 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 1.7%

ZWS stock opened at $48.80 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.14 billion, a PE ratio of 39.35, a PEG ratio of 1.90 and a beta of 1.11. Zurn Elkay Water Solutions Cor has a 1-year low of $35.06 and a 1-year high of $53.76. The business’s 50 day simple moving average is $47.89 and its 200 day simple moving average is $47.90.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business 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 firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued 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 dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ZWS shares. Robert W. Baird cut their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and a consensus price target 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.