Zurn Elkay Water Solutions Cor $ZWS Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,174,818 shares of the company’s stock after selling 533,623 shares during the quarter. First Trust Advisors LP owned 1.30% of Zurn Elkay Water Solutions Cor worth $102,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. HM Payson & Co. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 12.0% during the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock valued at $108,000 after buying an additional 246 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after buying an additional 256 shares during the last quarter. Archer Investment Corp increased its stake in shares of Zurn Elkay Water Solutions Cor by 8.9% in the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after buying an additional 295 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 3.8% in the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after acquiring an additional 323 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after acquiring an additional 341 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

ZWS opened at $47.46 on Monday. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 41.27, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $53.17. The company’s 50-day moving average price is $48.61 and its 200 day moving average price is $47.41. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. Zurn Elkay Water Solutions Cor’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a dividend of $0.11 per share. The ex-dividend date was Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 38.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group started 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 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Oppenheimer upped their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Royal Bank Of Canada increased their target price on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Hold” and a consensus target price of $51.63.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, CEO Todd A. Adams sold 275,050 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the completion of the transaction, the chief executive officer owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the transaction, the vice president owned 69,556 shares of the company’s stock, valued at $3,536,922.60. This represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 599,259 shares of company stock worth $31,225,361. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor 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.