Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Zurn Elkay Water Solutions Cor $ZWS

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 285,796 shares of the company’s stock after selling 46,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zurn Elkay Water Solutions Cor were worth $13,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at $26,000. Fifth Third Bancorp raised its position in shares of Zurn Elkay Water Solutions Cor by 49.7% during 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 in the last quarter. First Horizon Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter worth $45,000. Finally, Covestor Ltd lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 180.3% during the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 622 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock opened at $52.34 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. Zurn Elkay Water Solutions Cor has a 52 week low of $30.56 and a 52 week high of $53.17. The firm’s fifty day moving average is $47.72 and its 200 day moving average is $47.39. The firm has a market cap of $8.77 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.00 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.45%. The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.66 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is currently 38.26%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 25,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the transaction, the director owned 266,864 shares of the company’s stock, valued at approximately $13,658,099.52. This trade represents a 8.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey J. Lavalle sold 6,097 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total transaction of $315,824.60. Following the transaction, the vice president directly owned 49,803 shares in the company, valued at approximately $2,579,795.40. This represents a 10.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 599,259 shares of company stock worth $31,225,361 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ZWS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Oppenheimer upped their target price 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. Zacks Research lowered 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, Robert W. Baird set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.