Rockefeller Capital Management L.P. Raises Position in Zurn Elkay Water Solutions Cor $ZWS

Rockefeller Capital Management L.P. lifted its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 521.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,465 shares of the company’s stock after acquiring an additional 13,817 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Zurn Elkay Water Solutions Cor were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. lifted its position in Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares during the period. Norges Bank acquired a new position in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $111,341,000. First Trust Advisors LP increased its position in 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 worth $153,591,000 after purchasing an additional 1,128,917 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 78.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after buying an additional 399,180 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Zurn Elkay Water Solutions Cor by 157.0% during the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock worth $22,535,000 after buying an additional 292,747 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $49.16 on Friday. 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 company has a market capitalization of $8.20 billion, a P/E ratio of 39.64, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04. The firm has a 50-day moving average price of $49.26 and a two-hundred day moving average price of $48.23. Zurn Elkay Water Solutions Cor has a twelve month low of $35.73 and a twelve month high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on ZWS shares. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Barclays started coverage on Zurn Elkay Water Solutions Cor in a report on Tuesday. They issued an “overweight” rating and a $59.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.