Huntington National Bank Has $10.53 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Huntington National Bank cut its stake in Zurn Elkay Water Solutions by 51.6% in the fourth quarter, though it still held 226,537 shares worth about $10.53 million.
• ZWS reported strong quarterly results, with earnings of $0.41 per share topping estimates and revenue rising 11.4% year over year to $433 million.
• Analysts remain cautiously positive: the stock has a Moderate Buy consensus rating, with an average price target of $54.88, while shares recently traded around $47.

Huntington National Bank trimmed its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 51.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,537 shares of the company's stock after selling 241,513 shares during the period. Huntington National Bank owned about 0.14% of Zurn Elkay Water Solutions Cor worth $10,532,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Fifth Third Bancorp boosted its stake 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 worth $36,000 after buying an additional 256 shares during the last quarter. Archer Investment Corp boosted its stake in shares of Zurn Elkay Water Solutions Cor by 8.9% during the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company's stock worth $169,000 after buying an additional 295 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 15.6% during the 2nd quarter. Osaic Holdings Inc. now owns 2,531 shares of the company's stock worth $91,000 after buying an additional 341 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 134,647 shares of the company's stock worth $4,924,000 after buying an additional 353 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 4.4% during the 4th quarter. Thrive Wealth Management LLC now owns 9,094 shares of the company's stock worth $423,000 after buying an additional 381 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZWS has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. 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. UBS Group set a $56.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating and issued a $58.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, Robert W. Baird dropped 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Stock Down 3.7%

Shares of ZWS stock opened at $47.00 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The firm's 50-day moving average is $48.00 and its 200-day moving average is $47.91. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 1.93 and a beta of 1.11. Zurn Elkay Water Solutions Cor has a 52-week low of $35.06 and a 52-week high of $53.76.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm 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 business's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS 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, June 5th. Shareholders of record on Wednesday, May 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 Wednesday, May 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.48%.

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.

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