Fort Washington Investment Advisors Inc. OH Boosts Holdings in Zurn Elkay Water Solutions Cor $ZWS

Fort Washington Investment Advisors Inc. OH raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 7.8% during the fourth quarter, HoldingsChannel reports. The fund owned 396,549 shares of the company’s stock after acquiring an additional 28,762 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Zurn Elkay Water Solutions Cor were worth $18,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. HM Payson & Co. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 12.0% in the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after acquiring an additional 246 shares during the last quarter. Fifth Third Bancorp grew its holdings in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares during the last quarter. Archer Investment Corp raised its position in Zurn Elkay Water Solutions Cor by 8.9% in the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after purchasing an additional 295 shares during the period. Thrive Wealth Management LLC raised its position in Zurn Elkay Water Solutions Cor by 3.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after purchasing an additional 323 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after purchasing an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZWS shares. Oppenheimer boosted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Royal Bank Of Canada increased their price target on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. 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 research note on Thursday, February 5th. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.63.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, CEO Todd A. Adams sold 275,050 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the sale, the chief executive officer directly owned 2,256,684 shares of the company’s stock, valued at $116,851,097.52. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $395,700.20. Following the transaction, the chief financial officer owned 66,807 shares of the company’s stock, valued at approximately $3,460,602.60. This represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 599,259 shares of company stock worth $31,225,361. Insiders own 2.40% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $44.39 on Friday. The company has a 50 day simple moving average of $48.25 and a two-hundred day simple moving average of $47.36. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 1.87 and a beta of 1.04. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $400.75 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 38.26%.

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.