NewEdge Wealth LLC Sells 18,467 Shares of Zurn Elkay Water Solutions Cor $ZWS

NewEdge Wealth LLC trimmed its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 15.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 104,823 shares of the company’s stock after selling 18,467 shares during the period. NewEdge Wealth LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $4,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth about $35,000. Hantz Financial Services Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 138.9% in the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after purchasing an additional 468 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after purchasing an additional 292 shares during the period. 83.33% of the stock is owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 1.7%

ZWS stock opened at $48.28 on Friday. The company has a market cap of $8.06 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The business has a 50-day simple moving average of $48.26 and a 200 day simple moving average of $48.26. Zurn Elkay Water Solutions Cor has a 52 week low of $37.25 and a 52 week high of $53.76. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a $0.11 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.

Analyst Ratings Changes

ZWS has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Robert W. Baird decreased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Stifel Nicolaus dropped their price target on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Zurn Elkay Water Solutions Cor 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.