Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sells 946 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Jeffrey Lavalle sold 946 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the transaction, the vice president directly owned 51,868 shares of the company’s stock, valued at $2,677,944.84. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

NYSE ZWS traded down $0.09 during trading on Friday, hitting $51.29. The stock had a trading volume of 768,630 shares, compared to its average volume of 1,167,208. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $53.17. 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 company’s 50-day moving average price is $47.60 and its two-hundred day moving average price is $46.65. The company has a market capitalization of $8.55 billion, a PE ratio of 44.60, a P/E/G ratio of 2.14 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $407.20 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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 issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 38.26%.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Large investors have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in Zurn Elkay Water Solutions Cor by 3.5% in the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after acquiring an additional 201,299 shares in the last quarter. State Street Corp raised its position in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 22.8% in the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after purchasing an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC grew its position in Zurn Elkay Water Solutions Cor by 3.7% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after purchasing an additional 133,478 shares during the period. Finally, Geode Capital Management LLC increased its stake in Zurn Elkay Water Solutions Cor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after purchasing an additional 15,232 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZWS. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Stifel Nicolaus set a $59.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.63.

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.