Algert Global LLC Purchases New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Algert Global LLC purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,718 shares of the company’s stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tortoise Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 649.1% during the first quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Zurn Elkay Water Solutions in the 4th quarter valued at $76,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $36.69 on Tuesday. Zurn Elkay Water Solutions Co. has a 1-year low of $25.09 and a 1-year high of $36.80. The stock has a market cap of $6.34 billion, a P/E ratio of 51.68, a PEG ratio of 1.95 and a beta of 1.14. 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 firm has a 50-day moving average of $32.47 and a two-hundred day moving average of $31.74.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued 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 business 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%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, research analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Analyst Ratings Changes

Several research firms have issued reports on ZWS. Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Oppenheimer reiterated an “outperform” rating and set a $37.00 price target on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.17.

Insider Transactions at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction that occurred on 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 approximately $2,608,915.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the sale, the director now owns 389,399 shares of the company’s stock, valued at $12,854,060.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,572 shares of company stock worth $2,721,672. 3.80% of the stock is currently owned by corporate insiders.

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.