Zurn Elkay Water Solutions Cor $ZWS Stock Position Lifted by California State Teachers Retirement System

California State Teachers Retirement System grew its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 21.4% during the first quarter, Holdings Channel reports. The institutional investor owned 172,405 shares of the company’s stock after acquiring an additional 30,417 shares during the period. California State Teachers Retirement System’s holdings in Zurn Elkay Water Solutions Cor were worth $7,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. raised its holdings in Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares in the last quarter. State Street Corp boosted its stake in Zurn Elkay Water Solutions Cor by 0.6% during the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after purchasing an additional 30,483 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after purchasing an additional 15,232 shares during the period. First Trust Advisors LP increased its position in shares of Zurn Elkay Water Solutions Cor by 51.9% during the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Zurn Elkay Water Solutions Cor by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company’s stock worth $127,787,000 after buying an additional 162,065 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Royal Bank Of Canada increased their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Robert W. Baird set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and an average target price of $57.22.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $53.09 on Wednesday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 1.94 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1-year low of $43.06 and a 1-year high of $55.00. 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 stock’s fifty day simple moving average is $48.66 and its 200-day simple moving average is $48.49.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 27.16%.

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.