SG Americas Securities LLC Sells 29,279 Shares of Zurn Elkay Water Solutions Cor $ZWS

SG Americas Securities LLC trimmed its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 49.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,390 shares of the company’s stock after selling 29,279 shares during the period. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $1,366,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Zurn Elkay Water Solutions Cor by 3.5% in the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp increased its position in shares of Zurn Elkay Water Solutions Cor by 0.6% in the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the last quarter. Beck Mack & Oliver LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 3.7% in the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock worth $135,541,000 after purchasing an additional 133,478 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Zurn Elkay Water Solutions Cor by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $45.32 on Wednesday. The firm has a market cap of $7.59 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.07. 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 has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The business has a 50 day moving average price of $47.96 and a 200-day moving average price of $47.27.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data 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 firm had revenue of $407.20 million during the quarter, compared to analyst estimates of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities research analysts predict 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. Stockholders of record on Friday, February 20th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZWS shares. 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. Royal Bank Of Canada upped 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 research note on Thursday, February 5th. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 target price for the company. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.63.

Insider Activity

In related news, CEO Todd A. Adams sold 275,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was 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 in the company, valued at $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 812 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following the transaction, the chief financial officer owned 65,995 shares of the company’s stock, valued at approximately $3,406,001.95. This represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.40% of the company’s stock.

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.