Vanguard Group Inc. Has $777.66 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Vanguard trimmed its stake by 1.1% and now holds 16,727,550 shares — roughly 10.00% of ZWS, valued at about $777.66 million.
• Insiders have been net sellers recently: CEO Todd A. Adams sold 275,050 shares for about $14.24 million, and insiders disposed of 599,259 shares (~$31.2 million) over the past three months.
• Zurn Elkay beat quarterly estimates (EPS $0.41 vs. $0.37; revenue $433M, up 11.4% y/y), declared a $0.11 quarterly dividend (0.9% yield), and holds a consensus "Moderate Buy" analyst rating with an average target of about $54.88.

Vanguard Group Inc. lessened its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,727,550 shares of the company's stock after selling 187,080 shares during the period. Vanguard Group Inc. owned approximately 10.00% of Zurn Elkay Water Solutions Cor worth $777,664,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in Zurn Elkay Water Solutions Cor in the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in Zurn Elkay Water Solutions Cor during the fourth quarter worth about $26,000. Fifth Third Bancorp grew its stake in Zurn Elkay Water Solutions Cor by 49.7% during the third 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. First Horizon Corp bought a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth about $45,000. Finally, Covestor Ltd grew its stake in Zurn Elkay Water Solutions Cor by 180.3% during the third quarter. Covestor Ltd now owns 967 shares of the company's stock worth $46,000 after buying an additional 622 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, CEO Todd A. Adams sold 275,050 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the sale, the chief executive officer directly owned 2,256,684 shares of the company's stock, valued at $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Jahnke sold 25,000 shares of the firm'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 completion of the transaction, the director directly owned 266,864 shares in the company, valued at approximately $13,658,099.52. The trade was a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 599,259 shares of company stock valued at $31,225,361 over the last three months. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

ZWS has been the topic of several research analyst reports. Robert W. Baird decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note 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 research note on Wednesday. Royal Bank Of Canada upped their price objective on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, UBS Group set a $56.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of "Moderate Buy" and an average target price of $54.88.

Zurn Elkay Water Solutions Cor Price Performance

ZWS opened at $51.25 on Friday. Zurn Elkay Water Solutions Cor has a one year low of $33.95 and a one year high of $53.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The company's 50 day simple moving average is $47.85 and its 200-day simple moving average is $47.62. The stock has a market capitalization of $8.55 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11.

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 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The business had revenue of $433.00 million for the quarter, compared to analysts' expectations of $418.99 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend 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 35.48%.

Zurn Elkay Water Solutions Cor 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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