Vanguard Group Inc. Sells 187,080 Shares of Zurn Elkay Water Solutions Cor $ZWS

Vanguard Group Inc. cut its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,727,550 shares of the company’s stock after selling 187,080 shares during the period. Vanguard Group Inc. owned about 0.10% of Zurn Elkay Water Solutions Cor worth $777,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Zurn Elkay Water Solutions Cor by 3.5% in the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the period. State Street Corp raised its holdings in 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 purchasing an additional 30,483 shares during the period. Alliancebernstein L.P. raised its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. Dimensional Fund Advisors LP raised its holdings in Zurn Elkay Water Solutions Cor by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Zurn Elkay Water Solutions Cor by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 1,774,432 shares of the company’s stock worth $64,891,000 after purchasing an additional 58,936 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ZWS. Weiss Ratings upgraded shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Oppenheimer restated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Royal Bank Of Canada raised their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and an average price target of $54.88.

Insiders Place Their Bets

In related news, CEO Todd A. Adams sold 275,050 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total value of $14,242,089.00. Following the completion of the transaction, the chief executive officer owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 2,021 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the completion of the transaction, the vice president directly owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. This trade represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 599,259 shares of company stock valued at $31,225,361 in the last quarter. Company insiders own 2.40% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Down 1.4%

Zurn Elkay Water Solutions Cor stock opened at $51.25 on Friday. The company has a market cap of $8.55 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. Zurn Elkay Water Solutions Cor has a 1-year low of $33.95 and a 1-year high of $53.76. The company has a fifty day simple moving average of $47.85 and a 200 day simple moving average of $47.62. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. Research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 35.48%.

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.