Quantbot Technologies LP Invests $1.62 Million in Zurn Elkay Water Solutions Cor $ZWS

Quantbot Technologies LP purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 34,360 shares of the company’s stock, valued at approximately $1,616,000.

A number of other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Zurn Elkay Water Solutions Cor by 249.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares during the last quarter. First Horizon Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor during the third quarter valued at approximately $45,000. Covestor Ltd raised its holdings in Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 622 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $50,000. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on ZWS shares. Oppenheimer lifted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Royal Bank Of Canada boosted their target price on 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. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus target price of $51.63.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 2,021 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the transaction, the vice president directly owned 69,556 shares of the company’s stock, valued at $3,536,922.60. The trade was a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total value of $1,279,500.00. Following the transaction, the director owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This trade represents a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 599,259 shares of company stock valued at $31,225,361 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $50.36 on Thursday. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.40 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.04. The firm’s 50 day moving average price is $48.61 and its 200-day moving average price is $47.36. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month 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 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 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.