Public Sector Pension Investment Board Purchases 99,864 Shares of Zurn Elkay Water Solutions Cor $ZWS

Public Sector Pension Investment Board boosted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,717 shares of the company’s stock after acquiring an additional 99,864 shares during the quarter. Public Sector Pension Investment Board owned 0.35% of Zurn Elkay Water Solutions Cor worth $27,358,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. HM Payson & Co. raised its stake in shares of Zurn Elkay Water Solutions Cor by 12.0% in the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after purchasing an additional 246 shares during the last quarter. Archer Investment Corp increased its holdings in Zurn Elkay Water Solutions Cor by 8.9% in the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after buying an additional 295 shares in the last quarter. Thrive Wealth Management LLC increased its holdings in Zurn Elkay Water Solutions Cor by 3.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after buying an additional 323 shares in the last quarter. IFP Advisors Inc raised its position in Zurn Elkay Water Solutions Cor by 12.5% in the 2nd quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after buying an additional 339 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after acquiring an additional 341 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ZWS shares. Royal Bank Of Canada lifted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Jefferies Financial Group assumed coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Finally, Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.63.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $395,700.20. Following the sale, the chief financial officer directly owned 66,807 shares in the company, valued at approximately $3,460,602.60. The trade was a 10.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd A. Adams sold 275,050 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the completion of the sale, the chief executive officer owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. The trade was a 10.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 571,791 shares of company stock valued at $29,820,359. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $51.29 on Friday. The stock has a 50-day moving average price of $47.69 and a 200 day moving average price of $46.73. The stock has a market capitalization of $8.55 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.13 and a beta of 1.08. 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.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors 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 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 38.26%.

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.