Zurn Elkay Water Solutions Cor $ZWS Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,457,689 shares of the company’s stock after purchasing an additional 113,425 shares during the period. JPMorgan Chase & Co.’s holdings in Zurn Elkay Water Solutions Cor were worth $68,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its position in shares of Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. First Horizon Corp purchased a new stake in Zurn Elkay Water Solutions Cor in the third quarter valued at about $45,000. Covestor Ltd boosted its holdings in Zurn Elkay Water Solutions Cor by 180.3% in the third quarter. Covestor Ltd now owns 967 shares of the company’s stock worth $46,000 after acquiring an additional 622 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the third quarter worth about $50,000. Finally, Bessemer Group Inc. grew its position in Zurn Elkay Water Solutions Cor by 70.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,070 shares of the company’s stock worth $50,000 after purchasing an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ZWS. Robert W. Baird set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on Zurn Elkay Water Solutions Cor from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. 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 note on Thursday, February 5th. Finally, Stifel Nicolaus set a $59.00 target price on 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.63.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 25,000 shares of the firm’s stock in a transaction 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 approximately $13,658,099.52. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 812 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the transaction, the chief financial officer owned 65,995 shares of the company’s stock, valued at approximately $3,406,001.95. This trade represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 599,259 shares of company stock worth $31,225,361. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $50.52 on Wednesday. The business’s 50-day moving average is $48.23 and its two-hundred day moving average is $47.14. The company has a market capitalization of $8.43 billion, a P/E ratio of 43.93, a P/E/G ratio of 2.07 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $53.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.13.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, February 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $407.20 million for the quarter, compared to the consensus estimate of $400.75 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.54% and a net margin of 11.68%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 38.26%.

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.