KBC Group NV Boosts Position in Zurn Elkay Water Solutions Cor $ZWS

KBC Group NV raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 755.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 222,989 shares of the company’s stock after purchasing an additional 196,931 shares during the quarter. KBC Group NV’s holdings in Zurn Elkay Water Solutions Cor were worth $9,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $277,000. Woodline Partners LP bought a new stake in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 5.2% during the 1st 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 during the last quarter. American Century Companies Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 3.8% during 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. grew its position in shares of Zurn Elkay Water Solutions Cor by 4.1% during 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.

Zurn Elkay Water Solutions Cor Stock Up 0.3%

Shares of ZWS opened at $47.43 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 stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1 year low of $36.82 and a 1 year high of $53.76. The business’s 50 day simple moving average is $48.29 and its 200-day simple moving average is $48.25.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 35.48%.

Analysts Set New Price Targets

A number of research firms have commented on ZWS. Robert W. Baird decreased their target price on shares of 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. Barclays initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price objective on the stock. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Zurn Elkay Water Solutions Cor Company 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.