Impax Asset Management Group plc Cuts Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Impax Asset Management trimmed its stake in Zurn Elkay Water Solutions (NYSE:ZWS) by 6.6% in Q4, selling 206,262 shares and ending the quarter with 2,921,884 shares (1.75% ownership) valued at $135.84 million.
• Analyst coverage is mixed but broadly positive — four Buy and four Hold ratings yield an average "Moderate Buy" consensus and an average price target of $54.88, with recent targets ranging about $50–$59.
• Zurn Elkay beat recent estimates, reporting Q results of $0.41 EPS (vs. $0.37 expected) and $433 million in revenue (up 11.4% YoY); the stock trades near $52.49 with a market cap of roughly $8.8 billion and a P/E of 42.3.

Impax Asset Management Group plc reduced its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,921,884 shares of the company's stock after selling 206,262 shares during the period. Impax Asset Management Group plc owned 1.75% of Zurn Elkay Water Solutions Cor worth $135,838,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Zurn Elkay Water Solutions Cor by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,944,518 shares of the company's stock worth $279,571,000 after buying an additional 201,299 shares in the last quarter. State Street Corp increased its stake in Zurn Elkay Water Solutions Cor by 0.6% during the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company's stock worth $196,806,000 after buying an additional 30,483 shares in the last quarter. Alliancebernstein L.P. increased its stake in Zurn Elkay Water Solutions Cor by 1,714.8% during the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company's stock worth $158,478,000 after buying an additional 3,184,048 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Zurn Elkay Water Solutions Cor by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company's stock worth $120,515,000 after buying an additional 32,381 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 1,774,432 shares of the company's stock valued at $64,891,000 after acquiring an additional 58,936 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZWS has been the topic of several recent research reports. Stifel Nicolaus lifted 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. Robert W. Baird reduced 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. The Goldman Sachs Group restated 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. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Finally, UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of "Moderate Buy" and an average price target of $54.88.

Zurn Elkay Water Solutions Cor Trading Down 0.5%

Zurn Elkay Water Solutions Cor stock opened at $52.49 on Friday. The company has a quick ratio of 2.07, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $47.78 and a two-hundred day moving average price of $47.46. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.12 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 52-week low of $33.45 and a 52-week high of $53.70.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results 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 firm had revenue of $433.00 million during the quarter, compared to analyst estimates of $418.99 million. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. Zurn Elkay Water Solutions Cor's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.72 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is currently 35.48%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $51.18, for a total transaction of $1,279,500.00. Following the sale, the director owned 266,864 shares in the company, valued at $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey J. Lavalle sold 946 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $51.63, for a total transaction of $48,841.98. Following the sale, the vice president owned 51,868 shares in the company, valued at $2,677,944.84. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 599,259 shares of company stock valued at $31,225,361 over the last three months. 2.40% of the stock is owned by insiders.

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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