Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 113.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,793 shares of the company’s stock after purchasing an additional 204,100 shares during the period. Renaissance Technologies LLC owned about 0.23% of Zurn Elkay Water Solutions Cor worth $17,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Azzad Asset Management Inc. ADV acquired a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at $1,205,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 73.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after buying an additional 55,490 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $2,870,000. WINTON GROUP Ltd bought a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $6,305,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at about $1,118,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

ZWS has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays began coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price target for the company. UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock opened at $50.13 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.11. The company’s 50-day moving average is $48.47 and its 200-day moving average is $48.38. The stock has a market capitalization of $8.31 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1 year low of $42.39 and a 1 year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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