New York Life Investment Management LLC Makes New $581,000 Investment in Zurn Elkay Water Solutions Cor $ZWS

New York Life Investment Management LLC bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,487 shares of the company’s stock, valued at approximately $581,000.

A number of other hedge funds have also added to or reduced their stakes in ZWS. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the third quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $26,000. Fifth Third Bancorp increased its holdings in shares of 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 acquiring an additional 256 shares in the last quarter. Covestor Ltd increased its holdings in shares of Zurn Elkay Water Solutions Cor by 180.3% during the third quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after acquiring an additional 622 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Zurn Elkay Water Solutions Cor by 507.5% during the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock valued at $46,000 after acquiring an additional 817 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZWS. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Stifel Nicolaus boosted their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a report 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 company a “sector perform” rating in a report on Thursday, April 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Trading Up 3.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.82 on Thursday. The stock has a fifty day simple moving average of $47.75 and a 200 day simple moving average of $47.88. Zurn Elkay Water Solutions Cor has a 12-month low of $35.06 and a 12-month high of $53.76. The company has a market capitalization of $7.98 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Zurn Elkay Water Solutions Cor’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend 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.