Victory Capital Management Inc. Has $11.66 Million Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Victory Capital Management Inc. lessened its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 247,840 shares of the company’s stock after selling 40,292 shares during the quarter. Victory Capital Management Inc.’s holdings in Zurn Elkay Water Solutions Cor were worth $11,656,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 27.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock worth $48,059,000 after acquiring an additional 223,168 shares during the period. Quantbot Technologies LP bought a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $1,616,000. MAI Capital Management lifted its stake in Zurn Elkay Water Solutions Cor by 120,771.6% during the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock worth $13,814,000 after purchasing an additional 293,475 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth $211,000. Finally, Synovus Financial Corp bought a new position in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $201,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZWS has been the subject of several recent analyst reports. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report 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. Finally, Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on 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 Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $47.00 on Thursday. The business has a 50 day moving average of $48.61 and a 200-day moving average of $47.44. The company has a market capitalization of $7.84 billion, a P/E ratio of 40.87, a P/E/G ratio of 1.97 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $53.17. 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 posted its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping 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 firm had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter 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 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Buying and Selling

In related news, CFO David J. Pauli sold 812 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total value of $41,907.32. Following the completion of the sale, the chief financial officer directly owned 65,995 shares in the company, valued at $3,406,001.95. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd A. Adams sold 275,050 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the transaction, the chief executive officer directly owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 599,259 shares of company stock valued at $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.