Impax Asset Management Group plc Has $147.12 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Impax Asset Management Group plc cut its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 36.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,128,146 shares of the company’s stock after selling 1,805,078 shares during the period. Impax Asset Management Group plc’s holdings in Zurn Elkay Water Solutions Cor were worth $147,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $277,000. Woodline Partners LP acquired a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Zurn Elkay Water Solutions Cor by 5.2% in the first 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 purchasing an additional 24,348 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in Zurn Elkay Water Solutions Cor by 10.9% in the second quarter. KLP Kapitalforvaltning AS now owns 31,500 shares of the company’s stock worth $1,152,000 after purchasing an additional 3,100 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after purchasing an additional 339 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $51.60 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The stock has a 50 day moving average price of $47.43 and a 200 day moving average price of $46.58. The stock has a market capitalization of $8.64 billion, a PE ratio of 44.87, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 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, March 6th. Shareholders of record on Friday, February 20th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total transaction of $395,700.20. Following the completion of the sale, the chief financial officer directly owned 66,807 shares of the company’s stock, valued at approximately $3,460,602.60. This trade represents a 10.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Jahnke sold 17,900 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $50.44, for a total value of $902,876.00. Following the sale, the director directly owned 288,964 shares of the company’s stock, valued at $14,575,344.16. This represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 570,033 shares of company stock worth $29,729,610. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZWS. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Oppenheimer boosted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Research lowered Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.63.

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.