Fisher Asset Management LLC Boosts Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Fisher Asset Management LLC grew its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,021,874 shares of the company’s stock after purchasing an additional 223,168 shares during the quarter. Fisher Asset Management LLC owned approximately 0.61% of Zurn Elkay Water Solutions Cor worth $48,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZWS. Quantbot Technologies LP purchased a new position in Zurn Elkay Water Solutions Cor during the third quarter valued at approximately $1,616,000. MAI Capital Management increased its holdings in shares of 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 acquiring an additional 293,475 shares during the period. Koshinski Asset Management Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter worth $211,000. Synovus Financial Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter worth $201,000. Finally, Fifth Third Bancorp boosted its position in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several analyst reports. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.63.

Zurn Elkay Water Solutions Cor Stock Down 1.3%

Shares of ZWS stock opened at $50.32 on Wednesday. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $53.17. The stock has a market cap of $8.39 billion, a P/E ratio of 43.76, a P/E/G ratio of 2.12 and a beta of 1.04. The stock has a 50 day moving average of $48.56 and a 200 day moving average of $47.34. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping 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 business had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same quarter last year, the company earned $0.32 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a $0.11 dividend. The ex-dividend date is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, CEO Todd A. Adams sold 275,050 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the sale, the chief executive officer directly owned 2,256,684 shares in the company, valued at $116,851,097.52. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey J. Lavalle sold 946 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the completion of the transaction, the vice president directly owned 51,868 shares of the company’s stock, valued at $2,677,944.84. The trade was a 1.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 599,259 shares of company stock worth $31,225,361. 2.60% of the stock is currently owned by company 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.