Vest Financial LLC Invests $1.50 Million in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Vest Financial LLC acquired a new position of 32,361 shares of Zurn Elkay (NYSE:ZWS) in Q4, valued at approximately $1.50 million.
• Zurn Elkay reported quarterly EPS of $0.41 (beat by $0.04) and revenue of $433.0M (up 11.4% YoY), and analysts maintain a consensus "Moderate Buy" with a $54.88 price target.
• Insiders sold 599,259 shares worth about $31.2M in the last quarter while institutional investors own 83.33% of the stock; the company also declared a quarterly dividend of $0.11 (0.8% yield).

Vest Financial LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,361 shares of the company's stock, valued at approximately $1,504,000.

Several other institutional investors also recently modified their holdings of ZWS. Empowered Funds LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $277,000. Woodline Partners LP acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $4,632,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company's stock worth $16,127,000 after purchasing an additional 24,348 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 48,161 shares of the company's stock worth $1,761,000 after purchasing an additional 1,768 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 4.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 18,042 shares of the company's stock worth $660,000 after purchasing an additional 718 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Oppenheimer reissued an "outperform" rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. UBS Group set a $56.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $50.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Robert W. Baird cut their target price on Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.88.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Jeffrey J. Lavalle sold 6,097 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $51.80, for a total value of $315,824.60. Following the completion of the transaction, the vice president owned 49,803 shares in the company, valued at approximately $2,579,795.40. The trade was a 10.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 7,639 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Tuesday, February 10th. The shares were 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 of the company's stock, valued at $3,460,602.60. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 599,259 shares of company stock worth $31,225,361. 2.40% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Trading Up 2.2%

Shares of ZWS opened at $52.01 on Friday. The stock has a fifty day moving average price of $47.85 and a two-hundred day moving average price of $47.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a 52-week low of $33.88 and a 52-week high of $53.76. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.01 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The firm had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be given a $0.11 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.44 annualized dividend and a yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.48%.

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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