Jeffrey Lavalle Sells 6,097 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Jeffrey Lavalle sold 6,097 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $315,824.60. Following the completion of the sale, the vice president owned 49,803 shares of the company’s stock, valued at approximately $2,579,795.40. This represents a 10.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.93 during trading on Tuesday, hitting $51.60. 1,456,256 shares of the stock were exchanged, compared to its average volume of 1,219,584. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $47.43 and a 200-day moving average price of $46.58. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $53.17.

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

Zurn Elkay Water Solutions Cor Announces Dividend

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

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of research analyst reports. Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Jefferies Financial Group assumed coverage on shares of Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They set a “buy” rating and a $58.00 target price for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus target price of $51.63.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $26,000. Finally, Fifth Third Bancorp increased its stake 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 worth $36,000 after acquiring an additional 256 shares during the period. 83.33% of the stock is owned by institutional investors.

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.