Alliancebernstein L.P. Acquires 3,184,048 Shares of Zurn Elkay Water Solutions Cor $ZWS

Alliancebernstein L.P. boosted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1,714.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,369,731 shares of the company’s stock after purchasing an additional 3,184,048 shares during the quarter. Alliancebernstein L.P. owned 2.01% of Zurn Elkay Water Solutions Cor worth $158,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp boosted 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 valued at $36,000 after buying an additional 256 shares during the period. First Horizon Corp bought a new position in Zurn Elkay Water Solutions Cor during the 3rd quarter worth $45,000. Covestor Ltd raised its holdings in Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after acquiring an additional 622 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $50,000. Finally, Bessemer Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 70.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,070 shares of the company’s stock valued at $50,000 after acquiring an additional 444 shares during the period. Institutional investors own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ZWS shares. Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 target price on the stock. Royal Bank Of Canada boosted their price target on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.63.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 25,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the sale, the director owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a 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 on 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 trade represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 599,259 shares of company stock worth $31,225,361 over the last 90 days. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Trading Down 1.2%

Shares of ZWS opened at $45.19 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 1.91 and a beta of 1.03. The business’s fifty day moving average is $48.54 and its 200-day moving average is $47.44.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal 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. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 38.26%.

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.