Sudhanshu Chhabra Sells 2,021 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sudhanshu Chhabra sold 2,021 shares of the company’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 value of $102,767.85. Following the completion of the transaction, the vice president directly owned 69,556 shares of the company’s stock, valued at approximately $3,536,922.60. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Zurn Elkay Water Solutions Cor Price Performance

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.32 during trading on Thursday, hitting $50.89. 513,422 shares of the company’s stock traded hands, compared to its average volume of 1,120,916. The company has a market cap of $8.49 billion, a PE ratio of 44.25, a PEG ratio of 2.12 and a beta of 1.08. The firm’s fifty day moving average price is $47.98 and its 200 day moving average price is $46.94. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $53.17. 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 (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $400.75 million. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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 issued 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 dividend payout ratio is presently 38.26%.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor during the third quarter worth approximately $25,000. Whittier Trust Co. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. First Horizon Advisors Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at $26,000. Finally, Kemnay Advisory Services Inc. bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter worth $35,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on ZWS shares. Royal Bank Of Canada boosted their price objective on 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. The Goldman Sachs Group reissued a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Stifel Nicolaus set a $59.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and an average target price of $51.63.

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.