Zurn Elkay Water Solutions Cor $ZWS Stake Increased by Future Fund LLC

Future Fund LLC lifted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,574 shares of the company’s stock after buying an additional 10,503 shares during the period. Future Fund LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor during the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth about $35,000. Hantz Financial Services Inc. grew its stake in Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after acquiring an additional 468 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $47.75 on Friday. The business’s 50-day simple moving average is $48.43 and its 200-day simple moving average is $48.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a 52 week low of $36.59 and a 52 week high of $53.76. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 1.91 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, equities research analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.33.

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.