Azzad Asset Management Inc. ADV Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS

Azzad Asset Management Inc. ADV bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 25,913 shares of the company’s stock, valued at approximately $1,205,000.

Other large investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position 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 buying an additional 3,184,048 shares in the last quarter. MAI Capital Management lifted its position in Zurn Elkay Water Solutions Cor by 120,771.6% during the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock worth $13,814,000 after buying an additional 293,475 shares in the last quarter. UBS Group AG lifted its position in Zurn Elkay Water Solutions Cor by 157.0% during the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock worth $22,535,000 after buying an additional 292,747 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth about $12,510,000. Finally, Fisher Asset Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 27.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock worth $48,059,000 after purchasing an additional 223,168 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 0.3%

Shares of ZWS stock opened at $45.32 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The firm’s 50-day moving average is $47.96 and its 200-day moving average is $47.27. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.88 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The company had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period in the prior year, the firm earned $0.32 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. 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 report on Thursday, February 5th. Oppenheimer increased their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Royal Bank Of Canada increased their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Finally, Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $51.63.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 25,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the completion of the transaction, the director directly owned 266,864 shares of the company’s stock, valued at $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total transaction of $315,824.60. Following the transaction, the vice president directly owned 49,803 shares of the company’s stock, valued at approximately $2,579,795.40. This trade represents a 10.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 599,259 shares of company stock valued at $31,225,361. 2.40% of the stock is owned by company insiders.

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.