Sudhanshu Chhabra Sells 2,021 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sudhanshu Chhabra sold 2,021 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the completion of the sale, the vice president owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. This represents a 2.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

Zurn Elkay Water Solutions Cor stock opened at $50.81 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $53.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The firm’s 50-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 PE ratio of 44.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08.

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. The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm 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 $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 payout ratio is currently 38.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Royal Bank Of Canada lifted their price objective 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 report on Thursday, February 5th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and a consensus price target of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several large investors have recently modified their holdings of ZWS. Empowered Funds LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at approximately $277,000. Woodline Partners LP bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock worth $16,127,000 after acquiring an additional 24,348 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 34.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,312 shares of the company’s stock worth $304,000 after acquiring an additional 2,127 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after acquiring an additional 454 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.