Susquehanna International Group LLP Reduces Holdings in Zurn Elkay Water Solutions Cor $ZWS

Susquehanna International Group LLP cut its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 71.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,992 shares of the company’s stock after selling 54,065 shares during the period. Susquehanna International Group LLP’s holdings in Zurn Elkay Water Solutions Cor were worth $1,111,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ZWS. BlackRock Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth about $1,241,345,000. Invesco Ltd. grew its stake 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 worth $279,571,000 after buying an additional 201,299 shares during the last quarter. Bank of America Corp DE acquired a new position in Zurn Elkay Water Solutions Cor during the second quarter worth approximately $278,160,000. State Street Corp increased its position in 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 buying an additional 30,483 shares during the period. Finally, Geode Capital Management LLC lifted its stake in 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 valued at $164,716,000 after buying an additional 15,232 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Barclays increased their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.22.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $48.08 on Monday. The stock has a market capitalization of $7.97 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00. The company’s fifty day moving average is $49.40 and its two-hundred day moving average is $48.76.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued 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 currently 27.16%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the transaction, the director owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

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.