Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams Sells 263,347 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams sold 263,347 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $52.68, for a total value of $13,873,119.96. Following the completion of the sale, the chief executive officer owned 2,531,734 shares of the company’s stock, valued at approximately $133,371,747.12. The trade was a 9.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Zurn Elkay Water Solutions Cor Stock Down 1.8%

NYSE ZWS opened at $51.60 on Wednesday. The business’s fifty day simple moving average is $47.43 and its 200-day simple moving average is $46.58. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.64 billion, a PE ratio of 44.87, a P/E/G ratio of 2.18 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Analyst Ratings Changes

ZWS has been the subject of several analyst reports. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Jefferies Financial Group assumed coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 price target for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Hold” and an average price target of $51.63.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares during the period. Norges Bank purchased a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $111,341,000. Impax Asset Management Group plc lifted its position in shares of Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after purchasing an additional 916,850 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 78.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after purchasing an additional 399,180 shares in the last quarter. Finally, MAI Capital Management boosted its stake in shares of Zurn Elkay Water Solutions Cor by 120,771.6% in the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after purchasing an additional 293,475 shares during the period. Hedge funds and other institutional investors own 83.33% 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.