Peterson Wealth Services Makes New $978,000 Investment in Zurn Elkay Water Solutions Cor $ZWS

Peterson Wealth Services acquired a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the fourth quarter, Holdings Channel.com reports. The firm acquired 21,035 shares of the company’s stock, valued at approximately $978,000.

A number of other institutional investors have also recently added to or reduced their stakes in ZWS. Alliancebernstein L.P. lifted its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after buying an additional 3,184,048 shares in the last quarter. Norges Bank acquired a new position in Zurn Elkay Water Solutions Cor in the 4th quarter worth $111,341,000. Goldman Sachs Group Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 78.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after buying an additional 399,180 shares in the last quarter. MAI Capital Management lifted its holdings in Zurn Elkay Water Solutions Cor by 120,771.6% in the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock worth $13,814,000 after buying an additional 293,475 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Zurn Elkay Water Solutions Cor by 157.0% in the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock worth $22,535,000 after buying an additional 292,747 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $48.12 on Friday. The stock has a market cap of $8.03 billion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $48.55 and a 200-day moving average of $47.99. Zurn Elkay Water Solutions Cor has a 52 week low of $35.06 and a 52 week high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million for 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 business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.48%.

Analyst Upgrades and Downgrades

ZWS has been the subject of several research analyst reports. Royal Bank Of Canada increased their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird reduced their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and an average target price of $54.88.

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.