Qsemble Capital Management LP Acquires 3,702 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Qsemble Capital Management LP grew its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 32.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,033 shares of the company’s stock after acquiring an additional 3,702 shares during the period. Qsemble Capital Management LP’s holdings in Zurn Elkay Water Solutions were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ZWS. Tortoise Investment Management LLC grew its stake in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the second quarter valued at $29,000. Principal Securities Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $34,000. Whittier Trust Co. of Nevada Inc. raised its position in 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 acquiring an additional 1,267 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Zurn Elkay Water Solutions by 649.1% in the first quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 1.2 %

Zurn Elkay Water Solutions stock opened at $32.87 on Friday. The company’s 50-day moving average price is $31.18 and its two-hundred day moving average price is $31.39. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.62 billion, a P/E ratio of 46.30, a P/E/G ratio of 1.73 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $34.58.

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, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $412.00 million for 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 quarter last year, the company earned $0.24 earnings per share. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s payout ratio is presently 45.07%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the sale, the insider now directly owns 23,682,793 shares of the company’s stock, valued at approximately $720,904,218.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,715 shares of company stock worth $6,638,953. Corporate insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ZWS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target 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 reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus target price of $35.17.

Zurn Elkay Water Solutions Company 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.