Huntington National Bank Sells 241,513 Shares of Zurn Elkay Water Solutions Cor $ZWS

Huntington National Bank reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 51.6% during the 4th quarter, Holdings Channel reports. The fund owned 226,537 shares of the company’s stock after selling 241,513 shares during the period. Huntington National Bank’s holdings in Zurn Elkay Water Solutions Cor were worth $10,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in Zurn Elkay Water Solutions Cor by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company’s stock valued at $279,571,000 after acquiring an additional 201,299 shares during the period. State Street Corp increased its holdings in shares of Zurn Elkay Water Solutions Cor by 0.6% during the second quarter. State Street Corp now owns 5,381,619 shares of the company’s stock worth $196,806,000 after purchasing an additional 30,483 shares during the period. Geode Capital Management LLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,542,464 shares of the company’s stock worth $164,716,000 after purchasing an additional 15,232 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 1,714.8% during the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock worth $158,478,000 after purchasing an additional 3,184,048 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zurn Elkay Water Solutions Cor by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after purchasing an additional 32,381 shares during the period. 83.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $50.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Robert W. Baird lowered their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of “Moderate Buy” and an average price target of $54.88.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS opened at $47.00 on Friday. The company’s 50 day simple moving average is $48.00 and its 200 day simple moving average is $47.91. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. Zurn Elkay Water Solutions Cor has a 1 year low of $35.06 and a 1 year high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data 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. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) 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.