Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sells $102,767.85 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sudhanshu Chhabra sold 2,021 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on 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 owned 69,556 shares in the company, valued at $3,536,922.60. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS stock opened at $50.81 on Friday. The firm has a market cap of $8.47 billion, a P/E ratio of 44.18, a P/E/G ratio of 2.11 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $53.17. The firm has a fifty day moving average of $48.11 and a two-hundred day moving average of $47.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $407.20 million during the quarter, compared to analyst estimates of $400.75 million. During the same period in the previous year, the company earned $0.32 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ZWS shares. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and a consensus target price of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently made changes to their positions in ZWS. Creative Planning boosted its stake in shares of Zurn Elkay Water Solutions Cor by 37.4% during the 2nd quarter. Creative Planning now owns 57,771 shares of the company’s stock worth $2,113,000 after acquiring an additional 15,729 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 11.9% during the second quarter. Global Alpha Capital Management Ltd. now owns 109,342 shares of the company’s stock valued at $3,999,000 after purchasing an additional 11,602 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at $222,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $380,000. Finally, Carret Asset Management LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.