Future Fund LLC Has $1.77 Million Holdings in Zurn Elkay Water Solutions Cor $ZWS

Future Fund LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 43.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,071 shares of the company’s stock after buying an additional 11,497 shares during the quarter. Future Fund LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $1,770,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake 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 buying an additional 256 shares during the period. Archer Investment Corp raised its stake in shares of Zurn Elkay Water Solutions Cor by 8.9% in the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after purchasing an additional 295 shares during the period. Osaic Holdings Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 15.6% in the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after purchasing an additional 341 shares during the period. California State Teachers Retirement System raised its stake in shares of Zurn Elkay Water Solutions Cor by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company’s stock valued at $4,924,000 after purchasing an additional 353 shares during the period. Finally, Thrive Wealth Management LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 4.4% in the 4th quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company’s stock valued at $423,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $47.01 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The business’s 50-day moving average price is $48.05 and its two-hundred day moving average price is $47.90. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 1.86 and a beta of 1.11. Zurn Elkay Water Solutions Cor has a 1 year low of $35.06 and a 1 year high of $53.76.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZWS. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Robert W. Baird dropped their price target 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.88.

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.