Zurn Elkay Water Solutions Cor (NYSE:ZWS) CFO David Pauli Sells 7,639 Shares

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CFO David Pauli sold 7,639 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $395,700.20. Following the completion of the sale, the chief financial officer directly owned 66,807 shares in the company, valued at $3,460,602.60. This represents a 10.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock traded down $0.93 during trading hours on Tuesday, hitting $51.60. 1,456,256 shares of the stock traded hands, compared to its average volume of 1,219,584. The stock has a 50-day simple moving average of $47.43 and a 200 day simple moving average of $46.58. The company has a market cap of $8.64 billion, a P/E ratio of 44.87, a P/E/G ratio of 2.18 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period in the previous year, the business earned $0.32 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast 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 firm 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 dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 38.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZWS. HM Payson & Co. lifted its stake in Zurn Elkay Water Solutions Cor by 12.0% in the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after acquiring an additional 246 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares during the period. Archer Investment Corp lifted its position in shares of Zurn Elkay Water Solutions Cor by 8.9% in the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after purchasing an additional 295 shares in the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 3.8% during the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after purchasing an additional 323 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock worth $112,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZWS shares. Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Finally, Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.63.

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.