JPMorgan Chase & Co. Buys 113,425 Shares of Zurn Elkay Water Solutions Cor $ZWS

JPMorgan Chase & Co. grew its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,457,689 shares of the company’s stock after acquiring an additional 113,425 shares during the quarter. JPMorgan Chase & Co.’s holdings in Zurn Elkay Water Solutions Cor were worth $68,555,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp lifted its position in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after purchasing an additional 30,483 shares during the period. Beck Mack & Oliver LLC boosted its holdings in Zurn Elkay Water Solutions Cor by 3.7% in the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock worth $135,541,000 after purchasing an additional 133,478 shares during the last quarter. Geode Capital Management LLC grew its position in Zurn Elkay Water Solutions Cor by 2.7% in the 2nd 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, Alliancebernstein L.P. grew its position in Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZWS has been the subject of a number of research reports. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Stifel Nicolaus set a $59.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed 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. Royal Bank Of Canada upped 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 research report on Thursday, February 5th. Finally, Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Trading Down 0.6%

NYSE:ZWS opened at $44.07 on Friday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The business has a fifty day moving average price of $48.45 and a 200-day moving average price of $47.39. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 38.26%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 2,021 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president owned 69,556 shares in the company, valued at approximately $3,536,922.60. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $395,700.20. Following the transaction, the chief financial officer directly owned 66,807 shares in the company, valued at $3,460,602.60. This represents a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 599,259 shares of company stock worth $31,225,361 in the last quarter. 2.60% of the stock is currently owned by 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.