OP Asset Management Ltd Invests $2.03 Million in Zurn Elkay Water Solutions Cor $ZWS

OP Asset Management Ltd acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,263 shares of the company’s stock, valued at approximately $2,030,000.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $277,000. Woodline Partners LP acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter worth $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 5.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock worth $16,127,000 after acquiring an additional 24,348 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 48,161 shares of the company’s stock valued at $1,761,000 after acquiring an additional 1,768 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Zurn Elkay Water Solutions Cor by 4.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 18,042 shares of the company’s stock valued at $660,000 after acquiring an additional 718 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

ZWS has been the subject of a number of research reports. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Robert W. Baird reduced their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research report 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. Finally, Oppenheimer reiterated an “outperform” rating and set a $58.00 target price 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Price Performance

ZWS opened at $50.90 on Monday. Zurn Elkay Water Solutions Cor has a twelve month low of $35.73 and a twelve month high of $53.76. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 2.01 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 company has a fifty day simple moving average of $49.15 and a 200 day simple moving average of $48.15.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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