Knights of Columbus Asset Advisors LLC Invests $575,000 in Zurn Elkay Water Solutions Cor $ZWS

Knights of Columbus Asset Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,226 shares of the company’s stock, valued at approximately $575,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the second quarter worth $64,266,000. 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 acquiring an additional 916,850 shares in the last quarter. First Trust Advisors LP boosted 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 purchasing an additional 162,080 shares during the period. Woodline Partners LP acquired a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter valued at $4,632,000. Finally, Beck Mack & Oliver LLC increased its holdings in 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 in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the transaction, the director directly owned 162,000 shares in the company, valued at $7,695,000. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Down 0.8%

NYSE:ZWS opened at $46.14 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 2.78. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The stock has a 50-day simple moving average of $47.06 and a 200 day simple moving average of $45.87.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 39.29%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ZWS shares. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Royal Bank Of Canada started coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, January 5th. They issued a “sector perform” rating and a $49.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, December 12th. They set a “buy” rating and a $58.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.50.

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.