Jefferies Financial Group Inc. Buys New Shares in Zurn Elkay Water Solutions Cor $ZWS

Jefferies Financial Group Inc. bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 4th quarter, HoldingsChannel reports. The firm bought 27,989 shares of the company’s stock, valued at approximately $1,301,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares during the period. Archer Investment Corp lifted its holdings in Zurn Elkay Water Solutions Cor by 8.9% in the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after buying an additional 295 shares during the period. Osaic Holdings Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after buying an additional 341 shares during the period. California State Teachers Retirement System lifted its holdings in Zurn Elkay Water Solutions Cor by 0.3% in the second quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock valued at $4,924,000 after buying an additional 353 shares during the period. Finally, Thrive Wealth Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 4.4% in the fourth quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company’s stock valued at $423,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $47.00 on Friday. The firm’s 50-day moving average price is $48.00 and its 200-day moving average price is $47.91. Zurn Elkay Water Solutions Cor has a 1-year low of $35.06 and a 1-year high of $53.76. The firm has a market capitalization of $7.84 billion, a P/E ratio of 37.90, a P/E/G ratio of 1.93 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 posted its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $433.00 million during 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 firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities research 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, May 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%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of 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. The Goldman Sachs Group reiterated 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. Robert W. Baird dropped their price objective on shares of 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. UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, Stifel Nicolaus upped their price objective on shares of 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. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and an average price target of $54.88.

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.