Fort Washington Investment Advisors Inc. OH Boosts Stake in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Fort Washington Investment Advisors increased its stake in Zurn Elkay Water Solutions (ZWS) by 7.8% in Q4, adding 28,762 shares to hold 396,549 shares (about 0.24% of the company) worth roughly $18.44 million.
• Company insiders sold a total of 599,259 shares valued at about $31.2 million over the past 90 days (including sales by the VP and CFO), leaving insiders with 2.40% ownership while hedge funds and other institutions hold roughly 83.33%.
• Analysts have a consensus Hold rating with an average price target of $51.63 (four Buys, five Holds); the company recently beat quarterly EPS estimates, reported revenue up 9.8% year-over-year, and pays a $0.11 quarterly dividend (≈1.0% yield).

Fort Washington Investment Advisors Inc. OH increased its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 396,549 shares of the company's stock after purchasing an additional 28,762 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.24% of Zurn Elkay Water Solutions Cor worth $18,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 3rd quarter valued at about $25,000. Fifth Third Bancorp increased its holdings in Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company's stock worth $36,000 after acquiring an additional 256 shares in the last quarter. First Horizon Corp purchased a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $45,000. Covestor Ltd raised its stake in 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 period. Finally, Allworth Financial LP raised its stake in Zurn Elkay Water Solutions Cor by 507.5% during the 3rd quarter. Allworth Financial LP now owns 978 shares of the company's stock worth $46,000 after acquiring an additional 817 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Jefferies Financial Group initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, December 12th. They set a "buy" rating and a $58.00 target price on the stock. Stifel Nicolaus set a $59.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Robert W. Baird set a $56.00 price target on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Zacks Research cut Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $51.63.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Jeffrey J. Lavalle sold 946 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $51.63, for a total transaction of $48,841.98. Following the sale, the vice president directly owned 51,868 shares of the company's stock, 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 legal filing with the SEC, which is available through this link. Also, CFO David J. Pauli sold 812 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $51.61, for a total value of $41,907.32. Following 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. Insiders sold a total of 599,259 shares of company stock valued at $31,225,361 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock opened at $44.39 on Friday. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week 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. The firm's fifty day moving average is $48.25 and its 200 day moving average is $47.36. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 1.87 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $407.20 million during the quarter, compared to analysts' expectations of $400.75 million. During the same period last year, the company posted $0.32 EPS. The business's revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a $0.11 dividend. The ex-dividend date was Friday, February 20th. This represents a $0.44 annualized dividend and a yield of 1.0%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 38.26%.

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.

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