Knights of Columbus Asset Advisors LLC Acquires New Position in Zurn Elkay Water Solutions Cor $ZWS

Knights of Columbus Asset Advisors LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,226 shares of the company’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. HM Payson & Co. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 12.0% during the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock valued at $108,000 after purchasing an additional 246 shares during the last quarter. Archer Investment Corp boosted its position in Zurn Elkay Water Solutions Cor by 8.9% during the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after purchasing an additional 295 shares during the period. Thrive Wealth Management LLC grew its stake in Zurn Elkay Water Solutions Cor by 3.8% during the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after buying an additional 323 shares during the last quarter. IFP Advisors Inc increased its position in Zurn Elkay Water Solutions Cor by 12.5% in the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after buying an additional 339 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in 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 valued at $91,000 after buying an additional 341 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the transaction, the director owned 162,000 shares of the company’s stock, valued at $7,695,000. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $46.14 on Friday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 1.92 and a beta of 1.08. 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 12 month low of $27.74 and a 12 month high of $50.03. The stock’s 50 day moving average price is $47.06 and its 200 day moving average price is $45.87.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 39.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Oppenheimer set a $53.00 target price on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research note on Friday, October 31st. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Jefferies Financial Group began coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Hold” and a consensus price target of $45.50.

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.