Truist Financial Corp Sells 13,915 Shares of Zurn Elkay Water Solutions Cor $ZWS

Truist Financial Corp lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 9.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,169 shares of the company’s stock after selling 13,915 shares during the period. Truist Financial Corp’s holdings in Zurn Elkay Water Solutions Cor were worth $6,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. grew its position in shares of Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after buying an additional 201,299 shares during the last quarter. State Street Corp grew its position in shares of Zurn Elkay Water Solutions Cor by 0.6% in the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company’s stock valued at $196,806,000 after buying an additional 30,483 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after buying an additional 3,184,048 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Zurn Elkay Water Solutions Cor by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock valued at $120,515,000 after buying an additional 32,381 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 3.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,774,432 shares of the company’s stock valued at $64,891,000 after buying an additional 58,936 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZWS. Robert W. Baird dropped their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Up 0.3%

ZWS stock opened at $51.18 on Friday. The stock’s 50 day simple moving average is $47.88 and its 200 day simple moving average is $47.73. Zurn Elkay Water Solutions Cor has a fifty-two week low of $34.91 and a fifty-two week high of $53.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The company has a market cap of $8.54 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. On average, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 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, June 5th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 2,021 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. The trade was a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 946 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the sale, the vice president directly owned 51,868 shares of the company’s stock, valued at $2,677,944.84. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 581,359 shares of company stock worth $30,322,485. Company insiders own 2.40% of the company’s stock.

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.