Royal Bank of Canada Sells 71,372 Shares of Zurn Elkay Water Solutions Cor $ZWS

Royal Bank of Canada decreased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 443,276 shares of the company’s stock after selling 71,372 shares during the quarter. Royal Bank of Canada’s holdings in Zurn Elkay Water Solutions Cor were worth $19,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor during the third quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth about $35,000. Hantz Financial Services Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after buying an additional 468 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after buying an additional 292 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZWS has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and an average target price of $57.22.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $52.76 on Thursday. 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 current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $48.74 and a two-hundred day simple moving average of $48.53. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.01 and a beta of 1.04.

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 the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 27.16%.

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.