Thrivent Financial for Lutherans Grows Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Thrivent Financial for Lutherans increased its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 27.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,197 shares of the company’s stock after purchasing an additional 29,273 shares during the period. Thrivent Financial for Lutherans’ holdings in Zurn Elkay Water Solutions Cor were worth $4,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. purchased a new stake in Zurn Elkay Water Solutions Cor during the 2nd quarter worth about $26,000. First Horizon Advisors Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the last quarter. CWM LLC lifted its stake in Zurn Elkay Water Solutions Cor by 33.8% during the second quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after purchasing an additional 454 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $80,000. Finally, GAMMA Investing LLC increased its stake in Zurn Elkay Water Solutions Cor by 137.6% in the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock valued at $83,000 after purchasing an additional 1,310 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Trading Up 0.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.42 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 2.78. The company has a market capitalization of $7.94 billion, a P/E ratio of 42.34, a PEG ratio of 2.25 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The company’s fifty day moving average is $46.88 and its two-hundred day moving average is $43.66.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were paid a $0.11 dividend. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, November 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 39.29%.

Analyst Ratings Changes

ZWS has been the subject of several recent analyst reports. Oppenheimer set a $53.00 price objective on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research report on Friday, October 31st. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Jefferies Financial Group began coverage on Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They issued a “buy” rating and a $58.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Insider Activity

In other news, Director Timothy J. Jahnke sold 10,539 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $47.51, for a total value of $500,707.89. Following the transaction, the director owned 169,461 shares of the company’s stock, valued at approximately $8,051,092.11. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 20,100 shares of company stock valued at $960,105 over the last quarter. Insiders own 2.60% of the company’s stock.

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.