Arkadios Wealth Advisors Sells 48,837 Shares of Zurn Elkay Water Solutions Cor $ZWS

Arkadios Wealth Advisors lessened its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 49.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,838 shares of the company’s stock after selling 48,837 shares during the period. Arkadios Wealth Advisors’ holdings in Zurn Elkay Water Solutions Cor were worth $2,391,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its position in Zurn Elkay Water Solutions Cor by 37.4% in the 2nd quarter. Creative Planning now owns 57,771 shares of the company’s stock valued at $2,113,000 after acquiring an additional 15,729 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 11.9% during the second quarter. Global Alpha Capital Management Ltd. now owns 109,342 shares of the company’s stock worth $3,999,000 after purchasing an additional 11,602 shares during the period. Keybank National Association OH acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at about $222,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $380,000. Finally, Ballentine Partners LLC bought a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Four equities research 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, the stock has an average rating of “Hold” and an average price target of $45.50.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $47.60 on Friday. The company has a market capitalization of $7.97 billion, a P/E ratio of 42.50, a P/E/G ratio of 1.93 and a beta of 1.08. The business has a fifty day simple moving average of $46.94 and a two-hundred day simple moving average of $45.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.83. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $455.40 million during the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. Zurn Elkay Water Solutions Cor’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 10,539 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $47.51, for a total transaction of $500,707.89. Following the transaction, the director directly owned 169,461 shares in the company, valued at approximately $8,051,092.11. This represents a 5.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 20,100 shares of company stock valued at $960,105 in the last ninety days. 2.60% of the stock is currently owned by insiders.

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.