Sanctuary Advisors LLC Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Sanctuary Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,630 shares of the company’s stock, valued at approximately $2,306,000.

A number of other large investors have also bought and sold shares of ZWS. Empowered Funds LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter worth approximately $277,000. Woodline Partners LP bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Zurn Elkay Water Solutions Cor by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock valued at $16,127,000 after buying an additional 24,348 shares during the period. American Century Companies Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 48,161 shares of the company’s stock worth $1,761,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Zurn Elkay Water Solutions Cor by 4.1% in the second quarter. Russell Investments Group Ltd. now owns 18,042 shares of the company’s stock valued at $660,000 after acquiring an additional 718 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 0.3%

Shares of NYSE:ZWS opened at $48.98 on Wednesday. The firm has a market capitalization of $8.12 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The stock has a 50 day moving average price of $49.45 and a 200-day moving average price of $48.84. Zurn Elkay Water Solutions Cor has a 52-week low of $43.06 and a 52-week high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The company 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 revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current fiscal 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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a 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 27.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZWS shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Barclays lifted their price objective on 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. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.22.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Donavon Butler acquired 2,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $49.60 per share, with a total value of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

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.