Zurn Elkay Water Solutions Cor $ZWS Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 36.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,128,146 shares of the company’s stock after selling 1,805,078 shares during the quarter. Impax Asset Management Group plc owned about 1.87% of Zurn Elkay Water Solutions Cor worth $147,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Whittier Trust Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at about $26,000. First Horizon Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at about $45,000. Covestor Ltd lifted its position in Zurn Elkay Water Solutions Cor by 180.3% during the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 622 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 17,900 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $50.44, for a total value of $902,876.00. Following the completion of the sale, the director owned 288,964 shares of the company’s stock, valued at approximately $14,575,344.16. The trade was a 5.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd A. Adams sold 275,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total value of $14,242,089.00. Following the completion of the sale, the chief executive officer owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 570,033 shares of company stock worth $29,729,610. 2.60% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $51.60 on Wednesday. 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 debt-to-equity ratio of 0.31, a current ratio of 3.13 and a quick ratio of 2.07. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 2.18 and a beta of 1.08. The business has a 50 day simple moving average of $47.43 and a 200 day simple moving average of $46.58.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. On average, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 38.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZWS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus 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.