SG Americas Securities LLC Boosts Holdings in Zurn Elkay Water Solutions Cor $ZWS

SG Americas Securities LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 53.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,125 shares of the company’s stock after buying an additional 15,735 shares during the period. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB bought a new position in Zurn Elkay Water Solutions Cor in the 4th quarter worth about $7,356,000. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 113,425 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $1,205,000. Fisher Asset Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after purchasing an additional 223,168 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Zurn Elkay Water Solutions Cor by 73.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after purchasing an additional 55,490 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Down 2.9%

Shares of Zurn Elkay Water Solutions Cor stock opened at $49.06 on Thursday. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.19 billion, a P/E ratio of 39.57, a PEG ratio of 2.00 and a beta of 1.04. The firm’s 50 day moving average price is $49.30 and its 200-day moving average price is $48.21. Zurn Elkay Water Solutions Cor has a 52-week low of $35.73 and a 52-week high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. Zurn Elkay Water Solutions Cor’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. On average, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were given 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 is currently 35.48%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Robert W. Baird lowered their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Barclays began coverage on shares of Zurn Elkay Water Solutions Cor in a report on Tuesday. They set an “overweight” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

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.