Truist Financial Corp Has $6.23 Million Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Truist Financial Corp lessened its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,052 shares of the company’s stock after selling 2,121 shares during the quarter. Truist Financial Corp’s holdings in Zurn Elkay Water Solutions were worth $6,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after buying an additional 544 shares during the period. Tsfg LLC bought a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth $56,000. KBC Group NV lifted its position in shares of Zurn Elkay Water Solutions by 20.9% in the third quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after purchasing an additional 688 shares in the last quarter. Millburn Ridgefield Corp lifted its position in shares of Zurn Elkay Water Solutions by 1,152.5% in the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock worth $186,000 after purchasing an additional 4,760 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $234,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZWS shares. Robert W. Baird boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Insider Activity

In other news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company’s stock, valued at $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the transaction, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $34.90 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $37.57 and its two-hundred day moving average price is $36.38. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The firm has a market capitalization of $5.93 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. As a group, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is presently 39.13%.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.