Granite Investment Partners LLC Sells 17,463 Shares of Zurn Elkay Water Solutions Cor $ZWS

Granite Investment Partners LLC lowered its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 28.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,353 shares of the company’s stock after selling 17,463 shares during the period. Granite Investment Partners LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,086,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. grew its stake in 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 valued at $108,000 after buying an additional 246 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% in the third 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. Archer Investment Corp grew its position in shares of Zurn Elkay Water Solutions Cor by 8.9% in the third quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock valued at $169,000 after purchasing an additional 295 shares in the last quarter. Thrive Wealth Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 3.8% in the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after purchasing an additional 323 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock valued at $91,000 after purchasing an additional 341 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZWS. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada increased their price target on shares of 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. Oppenheimer raised their price objective on shares of 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Finally, Jefferies Financial Group started 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 on the stock. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.63.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $49.87 on Tuesday. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17. 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 market cap of $8.32 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The stock has a 50-day moving average price of $48.16 and a 200-day moving average price of $47.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. During the same period in the prior year, the business earned $0.32 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, CEO Todd A. Adams sold 275,050 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the completion of the sale, the chief executive officer directly owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total value of $1,279,500.00. Following the completion of the transaction, the director directly owned 266,864 shares in the company, valued at approximately $13,658,099.52. This represents a 8.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 599,259 shares of company stock worth $31,225,361 in the last three months. 2.60% of the stock is owned by insiders.

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.