Magnetar Financial LLC Sells 3,994 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Magnetar Financial LLC cut its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,873 shares of the company’s stock after selling 3,994 shares during the period. Magnetar Financial LLC’s holdings in Zurn Elkay Water Solutions were worth $731,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. HighPoint Advisor Group LLC acquired a new stake in Zurn Elkay Water Solutions during the fourth quarter worth $5,213,000. Los Angeles Capital Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions during the 1st quarter valued at about $1,004,000. Epoch Investment Partners Inc. bought a new stake in Zurn Elkay Water Solutions in the first quarter valued at about $7,674,000. UBS Group AG raised its position in Zurn Elkay Water Solutions by 37.5% in the fourth quarter. UBS Group AG now owns 217,525 shares of the company’s stock worth $6,397,000 after purchasing an additional 59,278 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after purchasing an additional 491,093 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Up 1.5 %

ZWS stock opened at $34.67 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 48.83, a P/E/G ratio of 1.84 and a beta of 1.14. The business has a fifty day moving average price of $31.72 and a 200 day moving average price of $31.49. Zurn Elkay Water Solutions Co. has a fifty-two week low of $25.09 and a fifty-two week high of $35.18.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Insider Activity

In related news, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares in the company, valued at approximately $12,854,060.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the completion of the sale, the insider now owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The disclosure for this sale can be found here. Insiders have sold 190,812 shares of company stock valued at $5,865,786 over the last three months. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

ZWS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reiterated an “outperform” rating and issued a $37.00 price target on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Finally, Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and an average price target of $35.17.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.