Geode Capital Management LLC Grows Position in Zurn Elkay Water Solutions Cor $ZWS

Geode Capital Management LLC boosted its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,542,464 shares of the company’s stock after purchasing an additional 15,232 shares during the quarter. Geode Capital Management LLC owned about 2.12% of Zurn Elkay Water Solutions Cor worth $164,716,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $7,356,000. JPMorgan Chase & Co. lifted its position in Zurn Elkay Water Solutions Cor by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock valued at $68,555,000 after buying an additional 113,425 shares in the last quarter. Fisher Asset Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 27.9% during the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after buying an additional 223,168 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $1,205,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Zurn Elkay Water Solutions Cor by 73.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock valued at $6,129,000 after buying an additional 55,490 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Up 0.0%

NYSE ZWS opened at $47.46 on Thursday. The company’s fifty day simple moving average is $48.22 and its 200-day simple moving average is $47.90. Zurn Elkay Water Solutions Cor has a 52 week low of $35.06 and a 52 week high of $53.76. 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 stock has a market cap of $7.92 billion, a P/E ratio of 38.28, a PEG ratio of 1.88 and a beta of 1.06.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZWS. Robert W. Baird reduced their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.