Beck Mack & Oliver LLC Sells 53,423 Shares of Zurn Elkay Water Solutions Cor $ZWS

Beck Mack & Oliver LLC lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,652,924 shares of the company’s stock after selling 53,423 shares during the quarter. Zurn Elkay Water Solutions Cor makes up approximately 3.1% of Beck Mack & Oliver LLC’s holdings, making the stock its 12th biggest holding. Beck Mack & Oliver LLC owned approximately 2.18% of Zurn Elkay Water Solutions Cor worth $171,797,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZWS. Fifth Third Bancorp increased its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares in the last quarter. First Horizon Corp acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter worth $45,000. Covestor Ltd grew its holdings in shares of Zurn Elkay Water Solutions Cor by 180.3% during the third quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after purchasing an additional 622 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at about $50,000. Finally, Bessemer Group Inc. lifted its position in Zurn Elkay Water Solutions Cor by 70.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,070 shares of the company’s stock worth $50,000 after buying an additional 444 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, CFO David J. Pauli sold 7,639 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $395,700.20. Following the sale, the chief financial officer owned 66,807 shares in the company, valued at $3,460,602.60. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey J. Lavalle sold 6,097 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $315,824.60. Following the transaction, the vice president directly owned 49,803 shares in the company, valued at $2,579,795.40. The trade was a 10.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 599,259 shares of company stock valued at $31,225,361. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Royal Bank Of Canada boosted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $59.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. 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, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Price Performance

NYSE:ZWS opened at $45.73 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17. The company has a market cap of $7.63 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The stock’s 50-day simple moving average is $48.57 and its 200 day simple moving average is $47.43.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 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.