SG Americas Securities LLC Increases Stake in Zurn Elkay Water Solutions Cor $ZWS

SG Americas Securities LLC raised its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 53.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,125 shares of the company’s stock after purchasing an additional 15,735 shares during the quarter. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,023,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after purchasing an additional 3,184,048 shares during the period. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth about $111,341,000. First Trust Advisors LP boosted its position in Zurn Elkay Water Solutions Cor by 51.9% in the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after buying an additional 1,128,917 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Zurn Elkay Water Solutions Cor by 78.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after buying an additional 399,180 shares during the period. Finally, UBS Group AG increased its holdings in Zurn Elkay Water Solutions Cor by 157.0% in the 3rd quarter. UBS Group AG now owns 479,166 shares of the company’s stock worth $22,535,000 after buying an additional 292,747 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $49.06 on Thursday. 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 firm has a fifty day moving average price of $49.30 and a 200 day moving average price of $48.21. Zurn Elkay Water Solutions Cor has a 1 year low of $35.73 and a 1 year high of $53.76. The stock has a market cap of $8.19 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.00 and a beta of 1.04.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.11 per share. The ex-dividend date was 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 dividend payout ratio (DPR) is 35.48%.

Wall Street Analyst Weigh In

ZWS has been the subject of several research reports. Stifel Nicolaus lifted their price objective on shares of 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. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Weiss Ratings upgraded 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. Barclays began coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday. They set an “overweight” rating and a $59.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.33.

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.