Zurn Elkay Water Solutions Cor $ZWS Position Cut by Huntington National Bank

Huntington National Bank lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 14.6% in the 3rd quarter, Holdings Channel reports. The fund owned 468,050 shares of the company’s stock after selling 80,000 shares during the period. Huntington National Bank’s holdings in Zurn Elkay Water Solutions Cor were worth $22,012,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its position in Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third 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 last quarter. First Horizon Corp acquired a new position in shares of Zurn Elkay Water Solutions Cor during the third quarter worth approximately $45,000. Covestor Ltd grew its holdings in Zurn Elkay Water Solutions Cor by 180.3% in the 3rd quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after buying an additional 622 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 2,021 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total value of $102,767.85. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey J. Lavalle sold 946 shares of the business’s stock in a transaction on 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. This trade represents a 1.79% 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 worth $31,225,361. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Jefferies Financial Group started 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 price target on the stock. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.63.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $50.90 on Friday. The company has a 50-day moving average of $48.45 and a 200-day moving average of $47.23. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. The company has a current ratio of 3.13, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $53.17.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 38.26%.

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.