Nordea Investment Management AB Purchases Shares of 157,306 Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Nordea Investment Management AB opened a new position in Zurn Elkay (NYSE:ZWS) in Q4, acquiring 157,306 shares worth about $7.36 million and now owns roughly 0.09% of the company per its SEC filing.
• Recent results: Zurn Elkay beat estimates with $0.36 EPS versus $0.34 and reported $407.2M in revenue, and the stock trades with a $7.74B market cap, a PE of 40.16 and a 52‑week range of $27.74–$53.17.
• Ownership and payouts: Institutional investors hold about 83.3% of shares, insiders sold ~599,259 shares (~$31.2M) in the past three months, and the company pays a $0.11 quarterly dividend (1.0% yield; ~38% payout ratio).

Nordea Investment Management AB acquired a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 157,306 shares of the company's stock, valued at approximately $7,356,000. Nordea Investment Management AB owned 0.09% of Zurn Elkay Water Solutions Cor as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of 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 valued at $279,571,000 after acquiring an additional 201,299 shares during the period. State Street Corp raised 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 acquiring an additional 30,483 shares during the period. Beck Mack & Oliver LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 3.7% during the second quarter. Beck Mack & Oliver LLC now owns 3,706,347 shares of the company's stock valued at $135,541,000 after purchasing an additional 133,478 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in 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 valued at $158,478,000 after purchasing an additional 3,184,048 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Zurn Elkay Water Solutions Cor by 6.4% in the second quarter. First Trust Advisors LP now owns 2,708,441 shares of the company's stock worth $99,048,000 after purchasing an additional 162,080 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock opened at $46.18 on Thursday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $53.17. The company's fifty day moving average price is $48.36 and its 200-day moving average price is $47.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13. The company has a market capitalization of $7.74 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $407.20 million during the quarter, compared to analysts' expectations of $400.75 million. Zurn Elkay Water Solutions Cor had a net margin of 11.68% and a return on equity of 16.54%. Zurn Elkay Water Solutions Cor's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is 38.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZWS shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Jefferies Financial Group began coverage on shares of Zurn Elkay Water Solutions Cor in a report on Friday, December 12th. They issued a "buy" rating and a $58.00 target price for the company. Oppenheimer increased their price target on Zurn Elkay Water Solutions Cor from $53.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Zacks Research cut Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $51.63.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 2,021 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $50.85, for a total transaction of $102,767.85. Following the completion of the transaction, the vice president owned 69,556 shares in the company, valued at $3,536,922.60. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $395,700.20. Following the completion of the sale, the chief financial officer directly owned 66,807 shares in the company, valued at $3,460,602.60. This trade represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 599,259 shares of company stock worth $31,225,361. Insiders own 2.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.