Zurn Elkay Water Solutions Cor $ZWS Shares Sold by Huntington National Bank

Huntington National Bank decreased its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,050 shares of the company’s stock after selling 80,000 shares during the period. Huntington National Bank owned approximately 0.28% of Zurn Elkay Water Solutions Cor worth $22,012,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $64,266,000. Impax Asset Management Group plc raised its stake 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 valued at $180,408,000 after purchasing an additional 916,850 shares during the period. MAI Capital Management raised its stake in shares of 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 valued at $13,814,000 after purchasing an additional 293,475 shares during the period. First Trust Advisors LP lifted its position in shares of Zurn Elkay Water Solutions Cor by 6.4% during the second quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after purchasing an additional 162,080 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at $4,632,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Activity

In other news, Director Timothy J. Jahnke sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the completion of the transaction, the director directly owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 275,050 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 2,256,684 shares in the company, valued at $116,851,097.52. The trade was a 10.86% decrease in their ownership of the stock. 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 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $50.90 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 2.12 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. The stock has a 50 day moving average of $48.45 and a 200-day moving average of $47.23.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced 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 return on equity of 16.54% and a net margin of 11.68%.The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given 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 of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 38.26%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ZWS shares. 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 raised their target price on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Oppenheimer boosted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Stifel Nicolaus set a $59.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. 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 analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus price target of $51.63.

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.