Intech Investment Management LLC Sells 19,758 Shares of Zurn Elkay Water Solutions Cor $ZWS

Intech Investment Management LLC cut its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 26.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 55,084 shares of the company’s stock after selling 19,758 shares during the quarter. Intech Investment Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,591,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ZWS. State Street Corp lifted its stake in Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after buying an additional 30,483 shares in the last quarter. Impax Asset Management Group plc lifted its position in 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 valued at $180,408,000 after acquiring an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC boosted its stake 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 worth $135,541,000 after purchasing an additional 133,478 shares during the period. Geode Capital Management LLC increased its holdings in Zurn Elkay Water Solutions Cor by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after purchasing an additional 91,740 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Zurn Elkay Water Solutions Cor by 6.4% in the 2nd quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock valued at $99,048,000 after purchasing an additional 162,080 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Royal Bank Of Canada raised their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.63.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $50.32 on Wednesday. The firm has a 50 day moving average of $48.56 and a 200-day moving average of $47.34. 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 current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.39 billion, a PE ratio of 43.76, a PEG ratio of 2.12 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The business had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is 38.26%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total value of $102,767.85. Following the sale, the vice president directly owned 69,556 shares of the company’s stock, valued at $3,536,922.60. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 812 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following the completion of the transaction, the chief financial officer owned 65,995 shares in the company, valued at approximately $3,406,001.95. This represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 599,259 shares of company stock worth $31,225,361 over the last quarter. 2.60% of the stock is currently owned by company insiders.

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.