Victory Capital Management Inc. Sells 40,292 Shares of Zurn Elkay Water Solutions Cor $ZWS

Victory Capital Management Inc. cut its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,840 shares of the company’s stock after selling 40,292 shares during the period. Victory Capital Management Inc. owned about 0.15% of Zurn Elkay Water Solutions Cor worth $11,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after acquiring an additional 30,483 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock valued at $180,408,000 after purchasing an additional 916,850 shares in the last quarter. Beck Mack & Oliver LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 3.7% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company’s stock valued at $135,541,000 after purchasing an additional 133,478 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 91,740 shares in the last quarter. Finally, First Trust Advisors LP increased its stake 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 purchasing an additional 162,080 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, CEO Todd A. Adams sold 275,050 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David J. Pauli sold 812 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the sale, the chief financial officer owned 65,995 shares of the company’s stock, valued at $3,406,001.95. This trade represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 599,259 shares of company stock worth $31,225,361 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $47.00 on Thursday. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 1.97 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $53.17. The firm has a fifty day simple moving average of $48.61 and a 200 day simple moving average of $47.44. 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 (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The company’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 EPS. Research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZWS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Robert W. Baird set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer increased their target price on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $59.00 price target on 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.