Truist Financial Corp Acquires New Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Truist Financial Corp bought a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 190,684 shares of the company’s stock, valued at approximately $5,608,000. Truist Financial Corp owned approximately 0.11% of Zurn Elkay Water Solutions at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock valued at $93,000 after acquiring an additional 1,517 shares in the last quarter. Arlington Trust Co LLC acquired a new position in Zurn Elkay Water Solutions in the 4th quarter valued at about $125,000. Nisa Investment Advisors LLC grew its position in Zurn Elkay Water Solutions by 16.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares in the last quarter. Teza Capital Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at about $207,000. Finally, Wealth Alliance acquired a new position in Zurn Elkay Water Solutions in the 4th quarter valued at about $228,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the sale, the insider now owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Zurn Elkay Water Solutions news, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.70, for a total value of $27,537.90. Following the completion of the sale, the insider now owns 43,026 shares in the company, valued at $1,320,898.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sudhanshu Chhabra sold 4,231 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.29, for a total value of $132,387.99. Following the completion of the sale, the vice president now owns 80,594 shares of the company’s stock, valued at approximately $2,521,786.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 741,506 shares of company stock worth $23,964,936. 3.80% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS opened at $31.64 on Friday. The stock has a 50 day moving average price of $31.98 and a 200 day moving average price of $30.19. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. Zurn Elkay Water Solutions Co. has a 52-week low of $20.70 and a 52-week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $374.00 million during the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. Research analysts predict that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 20th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZWS. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Friday, February 9th. Oppenheimer boosted their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. BNP Paribas began coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.50.

Zurn Elkay Water Solutions Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.