GSA Capital Partners LLP Takes $891,000 Position in Zurn Elkay Water Solutions Cor $ZWS

GSA Capital Partners LLP purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,633 shares of the company’s stock, valued at approximately $891,000.

A number of other institutional investors also recently bought and sold shares of ZWS. Thrive Wealth Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 5.9% in the second quarter. Thrive Wealth Management LLC now owns 8,702 shares of the company’s stock valued at $440,000 after buying an additional 483 shares in the last quarter. GAMMA Investing LLC raised its position in Zurn Elkay Water Solutions Cor by 9.8% during the second quarter. GAMMA Investing LLC now owns 3,708 shares of the company’s stock worth $187,000 after acquiring an additional 331 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 17.3% in the second quarter. Central Pacific Bank Trust Division now owns 3,861 shares of the company’s stock valued at $195,000 after purchasing an additional 570 shares in the last quarter. Pacific Excel Wealth Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $270,000. Finally, Cim Investment Management Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 29.7% during the 1st quarter. Cim Investment Management Inc. now owns 6,041 shares of the company’s stock worth $271,000 after purchasing an additional 1,384 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Down 2.2%

Shares of NYSE:ZWS opened at $49.21 on Wednesday. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.93 and a beta of 1.04. The stock’s 50-day moving average price is $49.39 and its two-hundred day moving average price is $48.79. Zurn Elkay Water Solutions Cor has a 12-month low of $43.06 and a 12-month high of $55.00.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be 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 is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 27.16%.

Analysts Set New Price Targets

ZWS has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Barclays raised their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Oppenheimer reissued an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.22.

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.