Alps Advisors Inc. Takes $459,000 Position in Zurn Elkay Water Solutions Cor $ZWS

Alps Advisors Inc. bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,770 shares of the company’s stock, valued at approximately $459,000.

A number of other institutional investors have also added to or reduced their stakes in ZWS. State Street Corp lifted its stake in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after acquiring an additional 30,483 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Zurn Elkay Water Solutions Cor by 22.8% in the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after purchasing an additional 916,850 shares during the period. Beck Mack & Oliver LLC lifted its stake in Zurn Elkay Water Solutions Cor by 3.7% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after purchasing an additional 133,478 shares during the last quarter. Geode Capital Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 2.7% during the second quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after purchasing an additional 91,740 shares during the period. Finally, First Trust Advisors LP grew its holdings in Zurn Elkay Water Solutions Cor by 6.4% during the second quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after purchasing an additional 162,080 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZWS shares. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Oppenheimer increased their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and an average target price of $51.63.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

Shares of Zurn Elkay Water Solutions Cor stock opened at $51.29 on Friday. 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 has a 50-day moving average of $47.69 and a 200-day moving average of $46.73. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17. The stock has a market cap of $8.55 billion, a PE ratio of 44.60, a PEG ratio of 2.13 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 812 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the sale, the chief financial officer directly owned 65,995 shares in the company, valued at approximately $3,406,001.95. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey J. Lavalle sold 946 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the sale, the vice president directly owned 51,868 shares in the company, valued at approximately $2,677,944.84. This trade represents a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 571,791 shares of company stock worth $29,820,359. 2.60% of the stock is owned by corporate insiders.

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.