Bessemer Group Inc. Purchases 44,007 Shares of Zurn Elkay Water Solutions Cor $ZWS

Bessemer Group Inc. lifted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 29.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 191,600 shares of the company’s stock after acquiring an additional 44,007 shares during the quarter. Bessemer Group Inc.’s holdings in Zurn Elkay Water Solutions Cor were worth $8,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Andina Capital Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock valued at $587,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. boosted its position in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock worth $57,000 after purchasing an additional 240 shares during the last quarter. Osaic Holdings Inc. boosted its position in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after purchasing an additional 341 shares during the last quarter. California State Teachers Retirement System grew its stake in Zurn Elkay Water Solutions Cor by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock valued at $4,924,000 after purchasing an additional 353 shares during the period. Finally, Thrive Wealth Management LLC grew its stake in Zurn Elkay Water Solutions Cor by 4.4% in the 4th quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company’s stock valued at $423,000 after purchasing an additional 381 shares during the period. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.75 on Monday. 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 firm has a market capitalization of $7.97 billion, a PE 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 twelve month low of $36.59 and a twelve month high of $53.76. The company has a 50-day moving average price of $48.43 and a two-hundred day moving average price of $48.24.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted 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 analyst estimates of $418.99 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Wall Street Analyst Weigh In

ZWS has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada raised their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Barclays began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.33.

About Zurn Elkay Water Solutions Cor

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.