Entropy Technologies LP Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Entropy Technologies LP bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 15,448 shares of the company’s stock, valued at approximately $693,000.

Other large investors have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth $7,114,000. Renaissance Technologies LLC increased its position in Zurn Elkay Water Solutions Cor by 113.0% during the first quarter. Renaissance Technologies LLC now owns 384,793 shares of the company’s stock valued at $17,254,000 after acquiring an additional 204,100 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Zurn Elkay Water Solutions Cor by 4,236.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 455,834 shares of the company’s stock valued at $20,440,000 after acquiring an additional 445,323 shares during the last quarter. Sei Investments Co. raised its stake in shares of Zurn Elkay Water Solutions Cor by 12.0% in the first quarter. Sei Investments Co. now owns 248,631 shares of the company’s stock valued at $11,149,000 after acquiring an additional 26,573 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Zurn Elkay Water Solutions Cor by 5.2% in the first quarter. Cetera Investment Advisers now owns 28,735 shares of the company’s stock valued at $1,288,000 after acquiring an additional 1,418 shares during the period. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Royal Bank Of Canada increased their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday. Finally, Stifel Nicolaus dropped their target price on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.56.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock opened at $51.74 on Thursday. Zurn Elkay Water Solutions Cor has a twelve month low of $41.48 and a twelve month high of $55.00. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.95 and a beta of 1.04. The business’s fifty day simple moving average is $48.42 and its two-hundred day simple moving average is $48.35. The company has a quick ratio of 2.11, a current ratio of 3.24 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.17%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a $0.11 dividend. 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 payout ratio is 35.48%.

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.