Peregrine Capital Management LLC Sells 30,000 Shares of Zurn Elkay Water Solutions Cor $ZWS

Peregrine Capital Management LLC reduced its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 10.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 252,715 shares of the company’s stock after selling 30,000 shares during the period. Peregrine Capital Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $11,885,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZWS. State Street Corp boosted its stake in shares of 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 worth $196,806,000 after acquiring an additional 30,483 shares during the period. Impax Asset Management Group plc boosted its stake in Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares during the period. Beck Mack & Oliver LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 3.7% during the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after buying an additional 133,478 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock valued at $126,059,000 after purchasing an additional 91,740 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Zurn Elkay Water Solutions Cor by 6.4% during the 2nd quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after purchasing an additional 162,080 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $45.87 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The firm has a market cap of $7.68 billion, a PE ratio of 40.95, a P/E/G ratio of 1.99 and a beta of 1.08. The business has a fifty day simple moving average of $47.07 and a 200-day simple moving average of $44.74.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (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 for the quarter, compared to analyst estimates of $442.62 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 20th were paid a $0.11 dividend. The ex-dividend date was Thursday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 39.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZWS shares. Royal Bank Of Canada started coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Monday. They set a “sector perform” rating and a $49.00 target price for the company. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.50.

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the transaction, the director directly owned 162,000 shares of the company’s stock, valued at approximately $7,695,000. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 20,100 shares of company stock worth $960,105. 2.60% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Company 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.