Truist Financial Corp Sells 13,915 Shares of Zurn Elkay Water Solutions Cor $ZWS

Truist Financial Corp cut its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,169 shares of the company’s stock after selling 13,915 shares during the period. Truist Financial Corp owned 0.08% of Zurn Elkay Water Solutions Cor worth $6,470,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. increased its position in Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after buying an additional 3,184,048 shares during the last quarter. MAI Capital Management lifted its position in shares of Zurn Elkay Water Solutions Cor by 120,771.6% in the third quarter. MAI Capital Management now owns 293,718 shares of the company’s stock valued at $13,814,000 after buying an additional 293,475 shares during the last quarter. UBS Group AG lifted its position in shares of Zurn Elkay Water Solutions Cor by 157.0% in the third quarter. UBS Group AG now owns 479,166 shares of the company’s stock valued at $22,535,000 after buying an additional 292,747 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the third quarter valued at approximately $12,510,000. Finally, Fisher Asset Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 27.9% in the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after buying an additional 223,168 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada raised their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and an average target price of $54.88.

Insider Buying and Selling

In other news, CEO Todd A. Adams sold 275,050 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $315,824.60. Following the completion of the transaction, the vice president owned 49,803 shares in the company, valued at approximately $2,579,795.40. The trade was a 10.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 581,359 shares of company stock worth $30,322,485. 2.40% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $51.18 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $34.91 and a fifty-two week high of $53.76. The business has a fifty day moving average price of $47.88 and a two-hundred day moving average price of $47.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The stock has a market capitalization of $8.54 billion, a PE ratio of 41.27, a P/E/G ratio of 2.02 and a beta of 1.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 35.48%.

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.