Jupiter Topco LLC Invests $172.29 Million in Zurn Elkay Water Solutions Cor $ZWS

Jupiter Topco LLC bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,409,405 shares of the company’s stock, valued at approximately $172,287,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Andina Capital Management LLC grew its position in Zurn Elkay Water Solutions Cor by 1.6% during the 4th quarter. Andina Capital Management LLC now owns 12,618 shares of the company’s stock worth $587,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. boosted its stake in Zurn Elkay Water Solutions Cor by 24.2% in the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company’s stock worth $57,000 after purchasing an additional 240 shares in the last quarter. Assetmark Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares in the last quarter. GAMMA Investing LLC boosted its stake in Zurn Elkay Water Solutions Cor by 9.8% in the second quarter. GAMMA Investing LLC now owns 3,708 shares of the company’s stock worth $187,000 after purchasing an additional 331 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of 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 worth $91,000 after purchasing an additional 341 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler bought 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director owned 37,487 shares of the company’s stock, valued at $1,859,355.20. This trade represents a 5.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZWS shares. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Barclays upped their target price on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.22.

Zurn Elkay Water Solutions Cor Trading Up 0.6%

ZWS stock opened at $49.13 on Thursday. The company has a market cap of $8.15 billion, a P/E ratio of 30.33, a PEG ratio of 1.79 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a twelve month low of $43.06 and a twelve month high of $55.00. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $49.47 and a 200-day moving average of $48.82.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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