WINTON GROUP Ltd Makes New $6.31 Million Investment in Zurn Elkay Water Solutions Cor $ZWS

WINTON GROUP Ltd bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 135,627 shares of the company’s stock, valued at approximately $6,305,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares in the last quarter. State Street Corp boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.6% in the 2nd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% in the 4th 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 in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

Shares of ZWS stock opened at $47.35 on Friday. The stock has a market capitalization of $7.90 billion, a PE ratio of 38.19, a P/E/G ratio of 1.87 and a beta of 1.06. Zurn Elkay Water Solutions Cor has a 1-year low of $35.06 and a 1-year high of $53.76. The business has a 50-day moving average of $48.28 and a 200 day moving average of $47.91. 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 (NYSE:ZWS) last issued its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 35.48%.

Analyst Ratings Changes

ZWS has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada upped their price objective 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. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

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.