Zurn Elkay Water Solutions Cor $ZWS Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Zurn Elkay Water Solutions (NYSE:ZWS) by 1.3%, holding 2,562,543 shares (about 1.53% of the company) worth roughly $120.5 million at quarter-end.
• Significant insider selling occurred: CEO Todd A. Adams sold 275,050 shares for about $14.24 million, and insiders have sold a total of 599,259 shares valued at $31.23 million over the past 90 days (insiders now own 2.6% of the stock).
• Zurn Elkay posted a quarterly beat (EPS $0.36 vs. $0.34 expected) with revenue up 9.8% to $407.2 million; analysts’ consensus is an average "Hold" rating with a $51.63 price target, and the company pays a $0.44 annualized dividend (yield ~0.9%).

Dimensional Fund Advisors LP raised its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,562,543 shares of the company's stock after buying an additional 32,381 shares during the quarter. Dimensional Fund Advisors LP owned about 1.53% of Zurn Elkay Water Solutions Cor worth $120,515,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZWS. First Horizon Advisors Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company's stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Zurn Elkay Water Solutions Cor by 49.7% in the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company's stock valued at $36,000 after purchasing an additional 256 shares during the last quarter. First Horizon Corp acquired a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $45,000. Covestor Ltd grew its position in Zurn Elkay Water Solutions Cor by 180.3% during the 3rd quarter. Covestor Ltd now owns 967 shares of the company's stock worth $46,000 after purchasing an additional 622 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, CEO Todd A. Adams sold 275,050 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $51.78, for a total transaction of $14,242,089.00. Following the transaction, the chief executive officer owned 2,256,684 shares in the company, valued at approximately $116,851,097.52. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey J. Lavalle sold 6,097 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $51.80, for a total value of $315,824.60. Following the completion of the sale, the vice president directly owned 49,803 shares in the company, valued at approximately $2,579,795.40. The trade was a 10.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 599,259 shares of company stock worth $31,225,361 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ZWS shares. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 29th. Stifel Nicolaus set a $59.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, February 5th. Robert W. Baird set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, February 5th. Finally, Zacks Research cut Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and an average price target of $51.63.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $47.00 on Thursday. The company has a market capitalization of $7.84 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. 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's fifty day moving average price is $48.61 and its 200 day moving average price is $47.44. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $53.17.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, February 20th. Zurn Elkay Water Solutions Cor's payout ratio is currently 38.26%.

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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