Zurn Elkay Water Solutions Cor $ZWS Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP reduced its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 71.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,992 shares of the company’s stock after selling 54,065 shares during the period. Susquehanna International Group LLP’s holdings in Zurn Elkay Water Solutions Cor were worth $1,111,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ZWS. Kingsview Wealth Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter worth about $2,870,000. Deutsche Bank AG purchased a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter valued at about $8,205,000. WINTON GROUP Ltd purchased a new position in Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $6,305,000. SG Americas Securities LLC raised its position in Zurn Elkay Water Solutions Cor by 53.5% during the first quarter. SG Americas Securities LLC now owns 45,125 shares of the company’s stock worth $2,023,000 after acquiring an additional 15,735 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 15.0% in the first quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company’s stock valued at $5,142,000 after purchasing an additional 14,958 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of recent research reports. Royal Bank Of Canada raised their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Donavon Butler bought 2,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $49.60 per share, with a total value of $99,993.60. Following the completion of the transaction, the director owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Trading Up 0.1%

Shares of Zurn Elkay Water Solutions Cor stock opened at $48.08 on Monday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The business’s fifty day moving average is $49.40 and its two-hundred day moving average is $48.76. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.97 billion, a PE ratio of 29.68, a P/E/G ratio of 1.76 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The firm had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is presently 27.16%.

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.