Mirova Has $791,000 Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Mirova cut its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 65.3% in the third quarter, Holdings Channel reports. The institutional investor owned 16,826 shares of the company’s stock after selling 31,683 shares during the period. Mirova’s holdings in Zurn Elkay Water Solutions Cor were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. HM Payson & Co. grew its stake in shares of Zurn Elkay Water Solutions Cor by 12.0% in the third 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 raised its holdings in Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares during the period. Archer Investment Corp lifted its holdings in Zurn Elkay Water Solutions Cor by 8.9% during 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 last quarter. Thrive Wealth Management LLC increased its position in Zurn Elkay Water Solutions Cor by 3.8% during the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after buying an additional 323 shares during the period. Finally, Osaic Holdings Inc. increased its position in Zurn Elkay Water Solutions Cor by 15.6% during the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after acquiring an additional 341 shares during the period. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

ZWS has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective on the stock. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.63.

Insiders Place Their Bets

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the completion of the sale, the vice president directly owned 69,556 shares in the company, valued at approximately $3,536,922.60. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the completion of the sale, the director directly owned 266,864 shares of the company’s stock, valued at $13,658,099.52. This represents a 8.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 599,259 shares of company stock valued at $31,225,361. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Down 1.9%

Shares of NYSE:ZWS opened at $44.36 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. 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 market cap of $7.43 billion, a PE ratio of 38.57, a P/E/G ratio of 1.88 and a beta of 1.04. The stock’s 50-day moving average is $48.48 and its 200 day moving average is $47.41.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share 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 analyst estimates of $400.75 million. During the same period in the previous year, the company posted $0.32 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.11 dividend. The ex-dividend date was Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 1.0%. 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.