Zurn Elkay Water Solutions Cor $ZWS Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 54.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,834 shares of the company’s stock after selling 70,993 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,699,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $35,000. Hantz Financial Services Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after acquiring an additional 468 shares during the period. Finally, Allworth Financial LP raised 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 purchasing an additional 817 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZWS. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Royal Bank Of Canada boosted their price objective on 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. Stifel Nicolaus cut their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, July 20th. Oppenheimer reaffirmed 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. Finally, Barclays assumed coverage on Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Zurn Elkay Water Solutions Cor Stock Up 0.2%

Shares of NYSE:ZWS opened at $48.35 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The company has a market cap of $8.07 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 52 week low of $37.83 and a 52 week high of $53.76. The firm has a 50 day simple moving average of $48.27 and a 200 day simple moving average of $48.26.

Zurn Elkay Water Solutions Cor Announces Dividend

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