Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Sells 263,347 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams sold 263,347 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Monday, February 9th. The stock was sold at an average price of $52.68, for a total transaction of $13,873,119.96. Following the completion of the transaction, the chief executive officer owned 2,531,734 shares in the company, valued at approximately $133,371,747.12. The trade was a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zurn Elkay Water Solutions Cor Trading Down 1.8%

NYSE ZWS traded down $0.93 during trading on Tuesday, hitting $51.60. 1,456,256 shares of the company’s stock traded hands, compared to its average volume of 1,219,584. The stock has a fifty day moving average of $47.43 and a two-hundred day moving average of $46.58. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17. The firm has a market cap of $8.64 billion, a P/E ratio of 44.87, a PEG ratio of 2.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $400.75 million. During the same period in the prior year, the business posted $0.32 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 38.26%.

Analyst Ratings Changes

ZWS has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Oppenheimer boosted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada boosted their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Finally, Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus price target of $51.63.

Institutional Trading of Zurn Elkay Water Solutions Cor

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Zurn Elkay Water Solutions Cor by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,124,454 shares of the company’s stock worth $52,276,000 after buying an additional 36,551 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 78.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after acquiring an additional 399,180 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 2.8% in the fourth quarter. Natixis Advisors LLC now owns 34,238 shares of the company’s stock worth $1,592,000 after acquiring an additional 937 shares during the last quarter. One Capital Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 42.2% during the fourth quarter. One Capital Management LLC now owns 38,645 shares of the company’s stock valued at $1,797,000 after acquiring an additional 11,467 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Zurn Elkay Water Solutions Cor during the fourth quarter valued at $111,341,000. 83.33% of the stock is owned by institutional investors.

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.