Sanctuary Advisors LLC Makes New $2.31 Million Investment in Zurn Elkay Water Solutions Cor $ZWS

Sanctuary Advisors LLC bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 45,630 shares of the company’s stock, valued at approximately $2,306,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at about $5,628,000. Globeflex Capital L P bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $2,847,000. Bank of Nova Scotia bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $407,000. Elevation Point Wealth Partners LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $901,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ZWS. Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Barclays lifted their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Royal Bank Of Canada upped their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and an average target price of $57.22.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Donavon Butler purchased 2,016 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the acquisition, the director directly owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. This represents a 5.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $48.98 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The business has a fifty day simple moving average of $49.45 and a two-hundred day simple moving average of $48.84. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00. The company has a market capitalization of $8.12 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.86 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 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. Zurn Elkay Water Solutions Cor’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business 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 $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 27.16%.

About Zurn Elkay Water Solutions Cor

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.