Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sudhanshu Chhabra Sells 2,021 Shares of Stock

Zurn Elkay Water Solutions Cor (NYSE:ZWS) VP Sudhanshu Chhabra sold 2,021 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total value of $102,767.85. Following the completion of the transaction, the vice president directly owned 69,556 shares in the company, valued at $3,536,922.60. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Zurn Elkay Water Solutions Cor Price Performance

NYSE:ZWS traded down $0.64 during trading hours on Friday, reaching $50.27. The company had a trading volume of 180,129 shares, compared to its average volume of 1,092,150. The firm has a market capitalization of $8.39 billion, a PE ratio of 43.88, a PEG ratio of 2.12 and a beta of 1.08. The stock has a 50-day moving average of $48.04 and a two-hundred day moving average of $46.97. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The company has a quick ratio of 2.07, a current ratio of 3.13 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. The firm had revenue of $407.20 million during the quarter, compared to the consensus estimate of $400.75 million. During the same period last year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 38.26%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZWS shares. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company 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 note on Monday, December 29th. Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Finally, Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of “Hold” and a consensus target price of $51.63.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in Zurn Elkay Water Solutions Cor by 37.4% during the second quarter. Creative Planning now owns 57,771 shares of the company’s stock worth $2,113,000 after acquiring an additional 15,729 shares during the period. Global Alpha Capital Management Ltd. grew its stake in Zurn Elkay Water Solutions Cor by 11.9% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 109,342 shares of the company’s stock worth $3,999,000 after purchasing an additional 11,602 shares in the last quarter. Keybank National Association OH acquired a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $222,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $380,000. Finally, Carret Asset Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the second quarter valued at $201,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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.