Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 158,655 Zurn Elkay Water Solutions Cor $ZWS

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 158,655 shares of the company’s stock, valued at approximately $7,114,000.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after acquiring an additional 201,299 shares during the last quarter. State Street Corp increased its position in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Geode Capital Management LLC increased its position in Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after purchasing an additional 15,232 shares during the last quarter. First Trust Advisors LP raised its stake in Zurn Elkay Water Solutions Cor by 51.9% during the fourth quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock valued at $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Zurn Elkay Water Solutions Cor by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,748,690 shares of the company’s stock valued at $127,787,000 after purchasing an additional 162,065 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird dropped their price objective 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 note on Thursday, April 23rd. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Stifel Nicolaus decreased their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday. Finally, Barclays initiated coverage on Zurn Elkay Water Solutions Cor in a report on Tuesday, June 30th. They set an “overweight” rating and a $59.00 price target on the stock. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.56.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $51.74 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. Zurn Elkay Water Solutions Cor has a 1-year low of $41.48 and a 1-year high of $55.00. The firm has a market capitalization of $8.63 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company’s 50-day moving average is $48.42 and its 200 day moving average is $48.35.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.17%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. Research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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