Quantbot Technologies LP Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Quantbot Technologies LP bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 34,360 shares of the company’s stock, valued at approximately $1,616,000.

A number of other institutional investors have also bought and sold shares of ZWS. HM Payson & Co. lifted its position in shares of Zurn Elkay Water Solutions Cor by 12.0% in the third quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock valued at $108,000 after acquiring an additional 246 shares in the last quarter. Fifth Third Bancorp raised its stake in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after purchasing an additional 256 shares during the period. Archer Investment Corp lifted its holdings in Zurn Elkay Water Solutions Cor by 8.9% in the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after purchasing an additional 295 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in Zurn Elkay Water Solutions Cor by 3.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock worth $410,000 after purchasing an additional 323 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 15.6% in the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Todd A. Adams sold 275,050 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total value of $14,242,089.00. Following the sale, the chief executive officer owned 2,256,684 shares of the company’s stock, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeffrey J. Lavalle sold 946 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total transaction of $48,841.98. Following the completion of the sale, the vice president owned 51,868 shares of the company’s stock, valued at $2,677,944.84. This trade represents a 1.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 599,259 shares of company stock valued at $31,225,361 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Stock Up 0.1%

Shares of NYSE:ZWS opened at $50.36 on Thursday. The company has a current ratio of 3.13, a quick ratio of 2.07 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. The company has a 50-day moving average price of $48.61 and a 200 day moving average price of $47.36. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 2.10 and a beta of 1.04.

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 for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $407.20 million for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts predict 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 business also recently declared 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. This represents a $0.44 annualized dividend and a 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Jefferies Financial Group assumed 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 price target on the stock. Oppenheimer raised their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Royal Bank Of Canada increased their price target on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Profile

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.