Truist Financial Corp Sells 4,120 Shares of Zurn Elkay Water Solutions Cor $ZWS

Truist Financial Corp reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,831 shares of the company’s stock after selling 4,120 shares during the quarter. Truist Financial Corp owned about 0.09% of Zurn Elkay Water Solutions Cor worth $5,626,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company’s stock worth $322,000 after purchasing an additional 336 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 3.9% in the first quarter. Axxcess Wealth Management LLC now owns 9,461 shares of the company’s stock valued at $312,000 after buying an additional 358 shares during the period. Central Pacific Bank Trust Division boosted its position in Zurn Elkay Water Solutions Cor by 8.4% during the second quarter. Central Pacific Bank Trust Division now owns 4,771 shares of the company’s stock valued at $174,000 after acquiring an additional 371 shares during the last quarter. Choreo LLC grew its holdings in Zurn Elkay Water Solutions Cor by 3.3% during the 1st quarter. Choreo LLC now owns 12,295 shares of the company’s stock worth $405,000 after acquiring an additional 395 shares during the period. Finally, Xponance Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 5.2% in the 1st quarter. Xponance Inc. now owns 12,142 shares of the company’s stock worth $400,000 after acquiring an additional 595 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the sale, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. This represents a 53.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy J. Jahnke sold 2,156 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total transaction of $102,496.24. Following the completion of the transaction, the director directly owned 308,964 shares in the company, valued at approximately $14,688,148.56. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,930 shares of company stock valued at $7,452,507. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.34 on Tuesday. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $48.42. The stock’s 50 day moving average is $45.69 and its 200-day moving average is $38.67. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 2.51 and a beta of 1.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. Zurn Elkay Water Solutions Cor’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 35.64%.

Zurn Elkay Water Solutions Cor 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.