New York Life Investment Management LLC Acquires New Shares in Zurn Elkay Water Solutions Cor $ZWS

New York Life Investment Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,487 shares of the company’s stock, valued at approximately $581,000.

Several other large investors have also bought and sold shares of ZWS. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $26,000. Fifth Third Bancorp boosted its stake in Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares in the last quarter. Covestor Ltd boosted its stake in Zurn Elkay Water Solutions Cor by 180.3% in the third quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after buying an additional 622 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in 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 in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZWS. Royal Bank Of Canada raised their price objective on 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. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Oppenheimer reissued an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Stifel Nicolaus lifted their price target 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, Robert W. Baird cut their price target on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $47.82 on Thursday. The business’s 50-day moving average price is $47.75 and its 200-day moving average price is $47.88. 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 firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 1.83 and a beta of 1.11. Zurn Elkay Water Solutions Cor has a 12 month low of $35.06 and a 12 month high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $433.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be 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 is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

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.