Janus Henderson Group PLC Sells 507,134 Shares of Zurn Elkay Water Solutions Cor $ZWS

Janus Henderson Group PLC trimmed its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,303,293 shares of the company’s stock after selling 507,134 shares during the quarter. Janus Henderson Group PLC’s holdings in Zurn Elkay Water Solutions Cor were worth $148,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $35,000. Hantz Financial Services Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after buying an additional 468 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock valued at $38,000 after buying an additional 292 shares during the period. 83.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ZWS. Royal Bank Of Canada raised their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday. Stifel Nicolaus increased their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday. Finally, UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.22.

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $50.56 on Friday. The business has a 50 day simple moving average of $48.52 and a 200 day simple moving average of $48.40. Zurn Elkay Water Solutions Cor has a 52-week low of $42.39 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.11 and a current ratio of 3.05. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.91 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.81 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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