Jeffrey Lavalle Sells 447 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Jeffrey Lavalle sold 447 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $50.86, for a total value of $22,734.42. Following the transaction, the vice president owned 51,421 shares of the company’s stock, valued at approximately $2,615,272.06. This represents a 0.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $50.81 on Friday. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $48.11 and its 200 day simple moving average is $47.02. The stock has a market cap of $8.47 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its 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 during the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a 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%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ZWS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Royal Bank Of Canada increased their price target on shares of 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. Jefferies Financial Group started coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus price target of $51.63.

Institutional Trading of Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its stake 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 buying an additional 201,299 shares in the last quarter. State Street Corp raised its holdings in Zurn Elkay Water Solutions Cor by 0.6% in the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after acquiring an additional 30,483 shares during the last quarter. Impax Asset Management Group plc lifted its position in Zurn Elkay Water Solutions Cor by 22.8% in the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after acquiring an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC boosted its stake in Zurn Elkay Water Solutions Cor by 3.7% during the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after purchasing an additional 133,478 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after purchasing an additional 15,232 shares in the last quarter. 83.33% of the stock is currently 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.