Illinois Municipal Retirement Fund Raises Holdings in Zurn Elkay Water Solutions Cor $ZWS

Illinois Municipal Retirement Fund increased its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 15.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,668 shares of the company’s stock after purchasing an additional 14,958 shares during the period. Illinois Municipal Retirement Fund’s holdings in Zurn Elkay Water Solutions Cor were worth $5,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZWS. Invesco Ltd. grew its holdings in Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after buying an additional 201,299 shares during the last quarter. State Street Corp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after acquiring an additional 30,483 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after acquiring an additional 15,232 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after acquiring an additional 1,128,917 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Zurn Elkay Water Solutions Cor by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company’s stock valued at $127,787,000 after acquiring an additional 162,065 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.75 on Friday. The company has a market cap of $7.97 billion, a P/E ratio of 38.50, a P/E/G ratio of 1.89 and a beta of 1.04. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 52 week low of $36.59 and a 52 week high of $53.76. The business has a fifty day simple moving average of $48.43 and a 200-day simple moving average of $48.23.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share 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 firm had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed 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 of this dividend was 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 dividend payout ratio is currently 35.48%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective 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. Barclays assumed coverage on shares of Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 target price on the stock. Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, Oppenheimer reissued 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. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.33.

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.