Intech Investment Management LLC Has $2.59 Million Stake in Zurn Elkay Water Solutions Cor $ZWS

Intech Investment Management LLC lowered its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 26.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,084 shares of the company’s stock after selling 19,758 shares during the period. Intech Investment Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,591,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. State Street Corp increased its holdings in Zurn Elkay Water Solutions Cor by 0.6% during 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 in the last quarter. Impax Asset Management Group plc increased its stake in shares of Zurn Elkay Water Solutions Cor by 22.8% in the second quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after buying an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 3.7% in the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after buying an additional 133,478 shares during the last quarter. Geode Capital Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,446,680 shares of the company’s stock worth $126,059,000 after buying an additional 91,740 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Zurn Elkay Water Solutions Cor by 6.4% during the 2nd quarter. First Trust Advisors LP now owns 2,708,441 shares of the company’s stock worth $99,048,000 after buying an additional 162,080 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction 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 sale, the vice president owned 69,556 shares in the company, valued at $3,536,922.60. This represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Jahnke sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $51.18, for a total value of $1,279,500.00. Following the sale, the director directly owned 266,864 shares in the company, valued at $13,658,099.52. The trade was a 8.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group initiated 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 target price for the company. 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. Robert W. Baird set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer lifted their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Four 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, the company has an average rating of “Hold” and an average target price of $51.63.

Zurn Elkay Water Solutions Cor Stock Down 1.3%

NYSE:ZWS opened at $50.32 on Wednesday. The stock’s fifty day simple moving average is $48.56 and its 200-day simple moving average is $47.34. The firm has a market capitalization of $8.39 billion, a P/E ratio of 43.76, a P/E/G ratio of 2.12 and a beta of 1.04. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $53.17.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its 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. The firm had revenue of $407.20 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

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.