Bridgefront Capital LLC Buys New Stake in Zurn Elkay Water Solutions Cor $ZWS

Bridgefront Capital LLC purchased a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,384 shares of the company’s stock, valued at approximately $959,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in Zurn Elkay Water Solutions Cor by 37.4% during the second quarter. Creative Planning now owns 57,771 shares of the company’s stock valued at $2,113,000 after acquiring an additional 15,729 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after acquiring an additional 223,168 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $2,302,000. Thematics Asset Management boosted its position in Zurn Elkay Water Solutions Cor by 17.9% in the 2nd quarter. Thematics Asset Management now owns 197,277 shares of the company’s stock worth $7,214,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after purchasing an additional 91,740 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO David J. Pauli sold 812 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the transaction, the chief financial officer owned 65,995 shares in the company, valued at $3,406,001.95. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey J. Lavalle sold 946 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $51.63, for a total transaction of $48,841.98. Following the completion of the transaction, the vice president directly owned 51,868 shares in the company, valued at $2,677,944.84. This represents a 1.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 599,259 shares of company stock valued at $31,225,361. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZWS shares. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and a consensus target price of $51.63.

Zurn Elkay Water Solutions Cor Trading Down 0.3%

Shares of ZWS stock opened at $45.73 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.91 and a beta of 1.04. The stock has a 50 day simple moving average of $48.57 and a 200-day simple moving average of $47.43. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 38.26%.

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.