Zurn Elkay Water Solutions Cor $ZWS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 3.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,088,776 shares of the company’s stock after selling 35,678 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Zurn Elkay Water Solutions Cor worth $48,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $35,000. Hantz Financial Services Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after buying an additional 468 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Zurn Elkay Water Solutions Cor by 507.5% during the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after acquiring an additional 817 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $48.35 on Friday. The business’s 50-day moving average is $48.27 and its 200-day moving average is $48.26. 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 company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 1.91 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a fifty-two week low of $37.83 and a fifty-two week high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping 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 business had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 35.48%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZWS. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Barclays began coverage on Zurn Elkay Water Solutions Cor in a research note on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price objective for the company. Finally, Royal Bank Of Canada increased their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.00.

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.