56,336 Shares in Zurn Elkay Water Solutions Cor $ZWS Purchased by Globeflex Capital L P

Globeflex Capital L P acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,336 shares of the company’s stock, valued at approximately $2,847,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter worth about $407,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $901,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $4,988,000. Finally, Callan Family Office LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $664,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $49.10 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. Zurn Elkay Water Solutions Cor has a one year low of $43.06 and a one year high of $55.00. The business’s 50-day moving average price is $49.46 and its two-hundred day moving average price is $48.84. The company has a market capitalization of $8.14 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. Analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 27.16%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average target price of $57.22.

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.