Zurn Elkay Water Solutions Cor $ZWS is Crescent Grove Advisors LLC’s 2nd Largest Position

Crescent Grove Advisors LLC cut its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 42.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,334,775 shares of the company’s stock after selling 989,872 shares during the period. Zurn Elkay Water Solutions Cor comprises approximately 5.8% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Crescent Grove Advisors LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $59,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System grew its stake in shares of Zurn Elkay Water Solutions Cor by 1.7% in the 1st quarter. California Public Employees Retirement System now owns 324,733 shares of the company’s stock worth $14,561,000 after acquiring an additional 5,413 shares in the last quarter. Future Fund LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 27.6% during the first quarter. Future Fund LLC now owns 48,574 shares of the company’s stock valued at $2,178,000 after purchasing an additional 10,503 shares in the last quarter. Assetmark Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 29.8% during the first quarter. Bessemer Group Inc. now owns 191,600 shares of the company’s stock worth $8,591,000 after purchasing an additional 44,007 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Zurn Elkay Water Solutions Cor by 15.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock worth $5,142,000 after purchasing an additional 14,958 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZWS has been the subject of several analyst reports. Barclays assumed coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird reduced their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. UBS Group set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Finally, 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. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average price target of $55.33.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $47.75 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 1.89 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 52 week low of $36.59 and a 52 week high of $53.76. The firm’s 50-day simple moving average is $48.43 and its two-hundred day simple moving average is $48.23.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 35.48%.

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.