Louisiana State Employees Retirement System Acquires Shares of 65,800 Zurn Elkay Water Solutions Cor $ZWS

Louisiana State Employees Retirement System bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 65,800 shares of the company’s stock, valued at approximately $2,950,000.

Other large investors have also modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 3.5% in the third 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 in the last quarter. State Street Corp raised its holdings in Zurn Elkay Water Solutions Cor by 0.6% in the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after acquiring an additional 30,483 shares during the last quarter. Geode Capital Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after acquiring an additional 15,232 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Zurn Elkay Water Solutions Cor by 51.9% in the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock worth $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on 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. Robert W. Baird reduced their price objective on 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. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Price Performance

NYSE:ZWS opened at $50.90 on Monday. Zurn Elkay Water Solutions Cor has a 52 week low of $35.73 and a 52 week high of $53.76. The stock’s fifty day moving average is $49.15 and its two-hundred day moving average is $48.15. The company has a market capitalization of $8.49 billion, a P/E ratio of 41.05, a P/E/G ratio of 2.01 and a beta of 1.06. 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 (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. Equities analysts expect 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 announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

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.