Los Angeles Capital Management LLC Increases Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Los Angeles Capital Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,852 shares of the company’s stock after purchasing an additional 13,865 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Zurn Elkay Water Solutions Cor worth $5,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $26,000. Fifth Third Bancorp increased its holdings in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after purchasing an additional 256 shares during the last quarter. Hantz Financial Services Inc. increased its holdings 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 worth $37,000 after purchasing an additional 468 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Zurn Elkay Water Solutions Cor by 507.5% during the 3rd quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after purchasing an additional 817 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $47.22 on Tuesday. Zurn Elkay Water Solutions Cor has a twelve month low of $35.06 and a twelve month high of $53.76. 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 company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06. The business has a 50 day simple moving average of $48.33 and a 200-day simple moving average of $47.94.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued 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 35.48%.

Wall Street Analysts Forecast Growth

ZWS has been the topic of several analyst reports. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lifted their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.88.

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.