Fisher Asset Management LLC Boosts Holdings in Zurn Elkay Water Solutions Cor $ZWS

Fisher Asset Management LLC grew its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,021,874 shares of the company’s stock after purchasing an additional 223,168 shares during the quarter. Fisher Asset Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $48,059,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares during the period. First Horizon Corp acquired a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth about $45,000. Covestor Ltd increased its holdings in shares of Zurn Elkay Water Solutions Cor by 180.3% during the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after buying an additional 622 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $395,700.20. Following the completion of the transaction, the chief financial officer owned 66,807 shares of the company’s stock, valued at approximately $3,460,602.60. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $50.32 on Wednesday. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 43.76, a price-to-earnings-growth ratio of 2.12 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The business has a 50-day moving average of $48.56 and a 200 day moving average of $47.34. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 38.26%.

Analyst Ratings Changes

Several research firms have issued reports on ZWS. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Hold” and an average price target of $51.63.

About Zurn Elkay Water Solutions Cor

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.