Wellington Management Group LLP Decreases Stake in Zurn Elkay Water Solutions Cor $ZWS

Wellington Management Group LLP decreased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,005,759 shares of the company’s stock after selling 25,323 shares during the quarter. Wellington Management Group LLP’s holdings in Zurn Elkay Water Solutions Cor were worth $50,821,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ZWS. Kingsview Wealth Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $2,870,000. WINTON GROUP Ltd purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth $6,305,000. Deutsche Bank AG acquired a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter worth $8,205,000. SG Americas Securities LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 53.5% during the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock worth $2,023,000 after purchasing an additional 15,735 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Zurn Elkay Water Solutions Cor by 15.0% in the first quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock valued at $5,142,000 after buying an additional 14,958 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler purchased 2,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.64 on Friday. The firm’s fifty day simple moving average is $49.19 and its 200-day simple moving average is $48.64. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.72 and a beta of 1.02. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released 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 net margin of 15.45% and a return on equity of 18.01%. The firm had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.11 per share. The ex-dividend date 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 27.16%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus raised 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, July 30th. Barclays increased their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Royal Bank Of Canada boosted their target price on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.22.

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.