21,035 Shares in Zurn Elkay Water Solutions Cor $ZWS Acquired by Peterson Wealth Services

Peterson Wealth Services bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,035 shares of the company’s stock, valued at approximately $978,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC grew its holdings in Zurn Elkay Water Solutions Cor by 29.9% in the fourth quarter. Nuveen LLC now owns 733,520 shares of the company’s stock valued at $34,101,000 after purchasing an additional 168,694 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Zurn Elkay Water Solutions Cor by 36.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 99,710 shares of the company’s stock valued at $4,636,000 after purchasing an additional 26,690 shares during the period. Fox Run Management L.L.C. purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $240,000. Franklin Resources Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 7,246 shares of the company’s stock valued at $337,000 after purchasing an additional 580 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 10.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,926 shares of the company’s stock valued at $1,112,000 after purchasing an additional 2,167 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZWS. Oppenheimer restated an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report 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. Royal Bank Of Canada boosted their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Stifel Nicolaus increased their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Robert W. Baird dropped their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Up 2.1%

ZWS opened at $48.12 on Friday. The firm has a 50 day moving average price of $48.55 and a 200 day moving average price of $47.99. The company has a market cap of $8.03 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a 1 year low of $35.06 and a 1 year high of $53.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

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.