Crescent Grove Advisors LLC Sells 989,872 Shares of Zurn Elkay Water Solutions Cor $ZWS

Crescent Grove Advisors LLC trimmed its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 42.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,334,775 shares of the company’s stock after selling 989,872 shares during the period. Zurn Elkay Water Solutions Cor makes up 5.8% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Crescent Grove Advisors LLC owned about 0.80% of Zurn Elkay Water Solutions Cor worth $59,851,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after acquiring an additional 201,299 shares during the period. State Street Corp grew its holdings in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the period. Geode Capital Management LLC increased its stake in Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after purchasing an additional 15,232 shares in the last quarter. First Trust Advisors LP increased its stake in Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Zurn Elkay Water Solutions Cor by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company’s stock valued at $127,787,000 after purchasing an additional 162,065 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Down 1.3%

Shares of NYSE ZWS opened at $47.75 on Friday. The stock has a market capitalization of $7.97 billion, a P/E ratio of 38.50, a P/E/G ratio of 1.89 and a beta of 1.04. The company has a 50-day moving average price of $48.43 and a 200-day moving average price of $48.23. Zurn Elkay Water Solutions Cor has a 1 year low of $36.59 and a 1 year high of $53.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its 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. 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 analyst estimates of $418.99 million. During the same quarter in the prior year, the business posted $0.31 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZWS. Barclays began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price objective on the stock. Royal Bank Of Canada upped their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. 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. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and a consensus 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.