Insider Selling: Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Sells $13,873,119.96 in Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CEO Todd Adams sold 263,347 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $52.68, for a total transaction of $13,873,119.96. Following the completion of the sale, the chief executive officer directly owned 2,531,734 shares of the company’s stock, valued at $133,371,747.12. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Zurn Elkay Water Solutions Cor Stock Down 0.5%

ZWS stock opened at $51.31 on Friday. 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 1 year low of $27.74 and a 1 year high of $53.17. The company has a fifty day simple moving average of $47.60 and a 200 day simple moving average of $46.65. The firm has a market cap of $8.56 billion, a PE ratio of 44.62, a PEG ratio of 2.14 and a beta of 1.08.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently made changes to their positions in ZWS. Alliancebernstein L.P. grew its stake in shares of 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 valued at $158,478,000 after purchasing an additional 3,184,048 shares during the last quarter. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $111,341,000. Impax Asset Management Group plc raised its position in shares of Zurn Elkay Water Solutions Cor by 22.8% during the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after acquiring an additional 916,850 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 78.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock worth $42,161,000 after acquiring an additional 399,180 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in 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 acquiring an additional 293,475 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Jefferies Financial Group started coverage on Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Royal Bank Of Canada raised 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 note on Thursday, February 5th. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus 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.