Truist Financial Corp Makes New $5.61 Million Investment in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Truist Financial Corp acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 190,684 shares of the company’s stock, valued at approximately $5,608,000.

A number of other hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in Zurn Elkay Water Solutions by 85.4% in the fourth quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after purchasing an additional 1,517 shares during the period. Arlington Trust Co LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 4th quarter worth $125,000. Nisa Investment Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 16.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after buying an additional 1,000 shares during the period. Teza Capital Management LLC bought a new position in Zurn Elkay Water Solutions during the third quarter valued at about $207,000. Finally, Wealth Alliance acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth about $228,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 0.0 %

Shares of Zurn Elkay Water Solutions stock opened at $31.64 on Friday. The stock has a market capitalization of $5.46 billion, a P/E ratio of 44.56, a PEG ratio of 1.65 and a beta of 1.21. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $31.98 and a two-hundred day moving average price of $30.19. Zurn Elkay Water Solutions Co. has a 12-month low of $20.70 and a 12-month high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. During the same period in the prior year, the business earned $0.18 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 20th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Zurn Elkay Water Solutions’s dividend payout ratio is 45.07%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZWS. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, Mizuho cut Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Activity

In other news, major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael Troutman sold 897 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the transaction, the insider now directly owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the transaction, the insider now owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 741,506 shares of company stock valued at $23,964,936. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.