David Pauli Sells 812 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) CFO David Pauli sold 812 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following the completion of the sale, the chief financial officer owned 65,995 shares in the company, valued at approximately $3,406,001.95. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Zurn Elkay Water Solutions Cor Stock Down 0.2%

Shares of Zurn Elkay Water Solutions Cor stock opened at $51.29 on Friday. The firm has a market cap of $8.55 billion, a PE ratio of 44.60, a P/E/G ratio of 2.13 and a beta of 1.08. The business’s 50 day simple moving average is $47.69 and its 200 day simple moving average is $46.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the business earned $0.32 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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 issued a $0.11 dividend. 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 presently 38.26%.

Analyst Upgrades and Downgrades

ZWS has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Robert W. Baird set a $56.00 price target on shares of 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 report on Monday, December 29th. Finally, Jefferies Financial Group initiated coverage on Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Zurn Elkay Water Solutions Cor by 3.5% during the third quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock worth $279,571,000 after purchasing an additional 201,299 shares during the last quarter. State Street Corp increased its stake 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 purchasing an additional 30,483 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after buying an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.7% during the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock worth $135,541,000 after buying an additional 133,478 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Zurn Elkay Water Solutions Cor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock valued at $164,716,000 after buying an additional 15,232 shares in the last quarter. 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.