796,834 Shares in Zurn Elkay Water Solutions Cor $ZWS Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 796,834 shares of the company’s stock, valued at approximately $40,264,000. Legal & General Group Plc owned approximately 0.48% of Zurn Elkay Water Solutions Cor at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kilter Group LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor in the second quarter valued at about $27,000. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in Zurn Elkay Water Solutions Cor in the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after purchasing an additional 468 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the transaction, the director owned 37,487 shares in the company, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZWS. Royal Bank Of Canada increased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Barclays upped their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $48.08 on Friday. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00. The firm’s 50 day moving average is $49.40 and its 200-day moving average is $48.79. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.78 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. Zurn Elkay Water Solutions Cor’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 27.16%.

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.