Principal Financial Group Inc. Sells 204,827 Shares of Zurn Elkay Water Solutions Cor $ZWS

Principal Financial Group Inc. decreased its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,112,061 shares of the company’s stock after selling 204,827 shares during the quarter. Principal Financial Group Inc. owned approximately 1.26% of Zurn Elkay Water Solutions Cor worth $99,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ZWS. HM Payson & Co. grew its holdings in Zurn Elkay Water Solutions Cor by 12.0% during the 3rd quarter. HM Payson & Co. now owns 2,303 shares of the company’s stock worth $108,000 after acquiring an additional 246 shares in the last quarter. Archer Investment Corp lifted its position in shares of Zurn Elkay Water Solutions Cor by 8.9% in the 3rd quarter. Archer Investment Corp now owns 3,595 shares of the company’s stock worth $169,000 after purchasing an additional 295 shares during the period. Thrive Wealth Management LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 3.8% during the third quarter. Thrive Wealth Management LLC now owns 8,713 shares of the company’s stock valued at $410,000 after purchasing an additional 323 shares in the last quarter. IFP Advisors Inc increased its holdings in Zurn Elkay Water Solutions Cor by 12.5% during the second quarter. IFP Advisors Inc now owns 3,058 shares of the company’s stock valued at $112,000 after buying an additional 339 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Zurn Elkay Water Solutions Cor by 15.6% in the second quarter. Osaic Holdings Inc. now owns 2,531 shares of the company’s stock worth $91,000 after buying an additional 341 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.50, for a total value of $354,397.50. Following the transaction, the director directly owned 162,000 shares of the company’s stock, valued at $7,695,000. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZWS has been the topic of several recent research reports. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. Royal Bank Of Canada initiated coverage on Zurn Elkay Water Solutions Cor in a research note on Monday, January 5th. They issued a “sector perform” rating and a $49.00 target price on the stock. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.50.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $46.91 on Tuesday. The company has a market cap of $7.85 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08. The company has a quick ratio of 1.83, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $47.05 and its 200-day moving average price is $46.00. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $50.03.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business 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. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 20th. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

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.