Jeffrey Lavalle Sells 6,097 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Jeffrey Lavalle sold 6,097 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 value of $315,824.60. Following the completion of the transaction, the vice president owned 49,803 shares in the company, valued at $2,579,795.40. The trade was a 10.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock traded down $0.93 during midday trading on Tuesday, reaching $51.60. The company had a trading volume of 1,456,256 shares, compared to its average volume of 1,219,584. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 2.18 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 has a 1-year low of $27.74 and a 1-year high of $53.17. The stock has a 50 day moving average price of $47.43 and a 200-day moving average price of $46.58.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $400.75 million. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 38.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada lifted 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 report on Thursday, February 5th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price target on the stock. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during 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 last quarter. Norges Bank bought a new position in Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $111,341,000. Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares during the period. Goldman Sachs Group Inc. increased its position in Zurn Elkay Water Solutions Cor by 78.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after acquiring an additional 399,180 shares during the period. Finally, MAI Capital Management increased its position in Zurn Elkay Water Solutions Cor by 120,771.6% in the 3rd quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after acquiring an additional 293,475 shares during the period. 83.33% of the stock is currently owned by institutional investors.

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.