Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams Sells 275,050 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams sold 275,050 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $51.60 on Wednesday. The company has a 50-day moving average price of $47.43 and a two-hundred day moving average price of $46.58. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $53.17. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. 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 data on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a $0.11 dividend. 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 presently 38.26%.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $50.00 price target on shares of 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 report on Thursday, February 5th. Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Jefferies Financial Group initiated coverage on Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective on the stock. Finally, Oppenheimer lifted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth about $25,000. Whittier Trust Co. purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter worth approximately $26,000. First Horizon Advisors Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the period. V Square Quantitative Management LLC purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $26,000. Finally, Fifth Third Bancorp grew its position in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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.