Public Sector Pension Investment Board Boosts Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Public Sector Pension Investment Board boosted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 20.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,717 shares of the company’s stock after purchasing an additional 99,864 shares during the quarter. Public Sector Pension Investment Board’s holdings in Zurn Elkay Water Solutions Cor were worth $27,358,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZWS. Whittier Trust Co. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at about $26,000. First Horizon Advisors Inc. increased its stake in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. First Horizon Corp purchased a new stake in Zurn Elkay Water Solutions Cor during the third quarter valued at approximately $45,000. Covestor Ltd lifted its stake in shares of Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after purchasing an additional 622 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $50,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

ZWS stock opened at $51.29 on Friday. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $53.17. The firm’s 50-day moving average is $47.69 and its 200 day moving average is $46.73. The company has a market capitalization of $8.55 billion, a PE ratio of 44.60, a P/E/G ratio of 2.13 and a beta of 1.08. 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 issued its 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. The business had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

Analysts Set New Price Targets

ZWS has been the topic of several recent research reports. Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada upped 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, Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus price target of $51.63.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, CFO David J. Pauli sold 7,639 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total transaction of $395,700.20. Following the transaction, the chief financial officer owned 66,807 shares in the company, valued at approximately $3,460,602.60. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $315,824.60. Following the completion of the sale, the vice president owned 49,803 shares of the company’s stock, valued at $2,579,795.40. The trade was a 10.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 571,791 shares of company stock valued at $29,820,359. Company insiders own 2.60% of the company’s stock.

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.