Zurn Elkay Water Solutions Cor $ZWS Stock Position Decreased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lowered its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 48.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,588 shares of the company’s stock after selling 42,168 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Zurn Elkay Water Solutions Cor were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor in the third quarter worth approximately $25,000. Fifth Third Bancorp grew its position 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 worth $36,000 after purchasing an additional 256 shares in the last quarter. First Horizon Corp acquired a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter valued at $45,000. Covestor Ltd lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 180.3% in the third quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after purchasing an additional 622 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Zurn Elkay Water Solutions Cor by 507.5% in the third quarter. Allworth Financial LP now owns 978 shares of the company’s stock worth $46,000 after buying an additional 817 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $44.39 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $53.17. The business has a 50-day moving average of $48.25 and a two-hundred day moving average of $47.37. The stock has a market capitalization of $7.44 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.85 and a beta of 1.04. 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 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 business had revenue of $407.20 million for the quarter, compared to analyst estimates of $400.75 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 38.26%.

Insider Buying and Selling

In other news, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $315,824.60. Following the transaction, the vice president owned 49,803 shares of the company’s stock, valued at $2,579,795.40. This trade represents a 10.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 275,050 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction 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 $116,851,097.52. The trade was a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 599,259 shares of company stock valued at $31,225,361. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They issued a “buy” rating and a $58.00 price objective for the company. Oppenheimer increased 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 report on Friday, February 6th. Stifel Nicolaus set a $59.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Zacks Research downgraded 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, The Goldman Sachs Group restated a “neutral” rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report 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. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus price target of $51.63.

Zurn Elkay Water Solutions Cor Company 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.