Jefferies Financial Group Inc. Acquires New Shares in Zurn Elkay Water Solutions Cor $ZWS

Jefferies Financial Group Inc. acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 27,989 shares of the company’s stock, valued at approximately $1,301,000.

A number of other large investors have also made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. MAI Capital Management lifted its stake in Zurn Elkay Water Solutions Cor by 120,771.6% in the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after purchasing an additional 293,475 shares during the last quarter. UBS Group AG lifted its stake in Zurn Elkay Water Solutions Cor by 157.0% in the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after purchasing an additional 292,747 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $12,510,000. Finally, Fisher Asset Management LLC lifted its stake in Zurn Elkay Water Solutions Cor by 27.9% in the 3rd quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after purchasing an additional 223,168 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. 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 note on Thursday, April 23rd. Finally, Robert W. Baird decreased 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 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 currently has an average rating of “Moderate Buy” and an average price target of $54.88.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.00 on Friday. The firm has a market cap of $7.84 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The firm’s fifty day moving average is $48.00 and its 200-day moving average is $47.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a 52 week low of $35.06 and a 52 week high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results 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 net margin of 12.26% and a return on equity of 17.40%. Zurn Elkay Water Solutions Cor’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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