Entropy Technologies LP Buys New Holdings in Zurn Elkay Water Solutions Cor $ZWS

Entropy Technologies LP purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,448 shares of the company’s stock, valued at approximately $693,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZWS. Andina Capital Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 1.6% during the fourth quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock valued at $587,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Zurn Elkay Water Solutions Cor by 24.2% during the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock worth $57,000 after acquiring an additional 240 shares during the last quarter. Assetmark Inc. boosted its position in shares of Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after acquiring an additional 292 shares during the last quarter. Osaic Holdings Inc. grew its stake in Zurn Elkay Water Solutions Cor by 15.6% during the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after acquiring an additional 341 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in 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 acquiring an additional 353 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZWS has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted 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. Barclays assumed coverage on Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 target price on the stock. 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 for the company in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and a consensus target price of $55.56.

Zurn Elkay Water Solutions Cor Trading Up 4.9%

Shares of ZWS opened at $51.74 on Thursday. The company’s fifty day moving average is $48.42 and its 200 day moving average is $48.35. Zurn Elkay Water Solutions Cor has a fifty-two week low of $41.48 and a fifty-two week high of $55.00. The stock has a market capitalization of $8.63 billion, a PE ratio of 31.94, a P/E/G ratio of 1.95 and a beta of 1.04. 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 released its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.17%. The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same quarter last year, the business earned $0.42 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.48%.

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.