Vest Financial LLC Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Vest Financial LLC bought a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 4th quarter, Holdings Channel.com reports. The fund bought 32,361 shares of the company’s stock, valued at approximately $1,504,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZWS. Advisory Services Network LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at $26,000. Fifth Third Bancorp increased its stake in shares of Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after buying an additional 256 shares during the period. First Horizon Corp acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at $45,000. Finally, Covestor Ltd increased its stake in shares of Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock valued at $46,000 after buying an additional 622 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZWS. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Robert W. Baird decreased their price objective on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.88.

Insider Buying and Selling

In other news, VP Jeffrey J. Lavalle sold 946 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total value of $48,841.98. Following the sale, the vice president directly owned 51,868 shares in the company, valued at $2,677,944.84. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 812 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following the completion of the sale, the chief financial officer owned 65,995 shares in the company, valued at approximately $3,406,001.95. This trade represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 599,259 shares of company stock valued at $31,225,361. Corporate insiders own 2.40% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 2.2%

NYSE:ZWS opened at $52.01 on Friday. Zurn Elkay Water Solutions Cor has a 1 year low of $33.88 and a 1 year high of $53.76. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.01 and a beta of 1.07. The stock has a 50-day moving average price of $47.85 and a two-hundred day moving average price of $47.61.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $418.99 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 35.48%.

About Zurn Elkay Water Solutions Cor

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.