SG Americas Securities LLC Sells 29,279 Shares of Zurn Elkay Water Solutions Cor $ZWS

SG Americas Securities LLC lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,390 shares of the company’s stock after selling 29,279 shares during the quarter. SG Americas Securities LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $1,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after acquiring an additional 201,299 shares in the last quarter. State Street Corp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after acquiring an additional 30,483 shares in the last quarter. Beck Mack & Oliver LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 3.7% during the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after acquiring an additional 133,478 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Zurn Elkay Water Solutions Cor by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $45.32 on Wednesday. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $53.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The business has a fifty day moving average price of $47.96 and a 200-day moving average price of $47.27. The company has a market capitalization of $7.59 billion, a PE ratio of 39.41, a PEG ratio of 1.88 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the firm posted $0.32 earnings per share. Zurn Elkay Water Solutions Cor’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect 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 was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president directly owned 69,556 shares of the company’s stock, valued at $3,536,922.60. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 812 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following the sale, the chief financial officer directly owned 65,995 shares in the company, valued at $3,406,001.95. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 599,259 shares of company stock valued at $31,225,361 over the last three months. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZWS. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Jefferies Financial Group began coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.63.

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.