Citigroup Inc. Has $8.20 Million Position in Zurn Elkay Water Solutions Cor $ZWS

Citigroup Inc. lessened its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,409 shares of the company’s stock after selling 51,628 shares during the period. Citigroup Inc. owned 0.10% of Zurn Elkay Water Solutions Cor worth $8,202,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. boosted its holdings 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 worth $108,000 after buying an additional 246 shares during the period. Fifth Third Bancorp boosted its holdings in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares during the period. Archer Investment Corp boosted its holdings in Zurn Elkay Water Solutions Cor by 8.9% during the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after acquiring an additional 295 shares during the period. Thrive Wealth Management LLC grew its position in shares of 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 purchasing an additional 323 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after purchasing an additional 341 shares during the period. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group initiated coverage on Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 target price for the company. Stifel Nicolaus set a $59.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Robert W. Baird set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Price Performance

NYSE:ZWS opened at $50.90 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The company has a 50-day moving average of $48.45 and a 200-day moving average of $47.26. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $53.17. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 2.12 and a beta of 1.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business 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%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors 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 dividend yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Insiders Place Their Bets

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 value of $14,242,089.00. Following the sale, the chief executive officer owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. The trade was a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey J. Lavalle sold 946 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total transaction of $48,841.98. Following the completion of the sale, the vice president directly owned 51,868 shares in the company, valued at approximately $2,677,944.84. The trade was a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 599,259 shares of company stock worth $31,225,361 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

About Zurn Elkay Water Solutions Cor

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.