Fifth Third Bancorp Has $4.40 Million Stake in Zurn Elkay Water Solutions Cor $ZWS

Fifth Third Bancorp increased its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 5,621.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,179 shares of the company’s stock after acquiring an additional 96,463 shares during the period. Fifth Third Bancorp’s holdings in Zurn Elkay Water Solutions Cor were worth $4,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth about $35,000. Hantz Financial Services Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after buying an additional 468 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after buying an additional 817 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ZWS. Robert W. Baird cut their target price 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. Oppenheimer restated an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Royal Bank Of Canada raised 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 note on Thursday, April 23rd. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock opened at $47.75 on Friday. The stock’s 50 day moving average is $48.43 and its 200 day moving average is $48.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The firm has a market cap 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. Zurn Elkay Water Solutions Cor has a one year low of $36.59 and a one year 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 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million for 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 firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend 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%.

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.