King Luther Capital Management Corp Acquires 2,841 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

King Luther Capital Management Corp increased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,358 shares of the company’s stock after purchasing an additional 2,841 shares during the period. King Luther Capital Management Corp owned 0.10% of Zurn Elkay Water Solutions worth $4,950,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after acquiring an additional 2,206,508 shares during the period. Norges Bank bought a new position in Zurn Elkay Water Solutions in the fourth quarter worth about $39,532,000. Jennison Associates LLC lifted its position in shares of Zurn Elkay Water Solutions by 68.6% during the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after buying an additional 518,733 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Zurn Elkay Water Solutions by 3,236.0% in the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after buying an additional 491,093 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after buying an additional 465,701 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Down 0.5 %

Zurn Elkay Water Solutions stock opened at $34.82 on Friday. The business’s 50-day simple moving average is $31.65 and its two-hundred day simple moving average is $31.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. The company has a market cap of $6.01 billion, a PE ratio of 49.04, a PEG ratio of 1.80 and a beta of 1.14. 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 posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 net margin of 8.80% and a return on equity of 12.82%. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

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

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now directly owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Aimee Katz sold 100,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $29.04, for a total value of $2,904,000.00. Following the completion of the transaction, the insider now directly owns 23,574,164 shares in the company, valued at approximately $684,593,722.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,812 shares of company stock worth $5,865,786. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZWS. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Oppenheimer restated an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.17.

Zurn Elkay Water Solutions Profile

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.