Lombard Odier Asset Management Europe Ltd Has $4.27 Million Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 274.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 145,359 shares of the company’s stock after buying an additional 106,562 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Zurn Elkay Water Solutions were worth $4,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ZWS. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Zurn Elkay Water Solutions by 11.1% in the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after buying an additional 21,081 shares during the period. King Luther Capital Management Corp grew its position in Zurn Elkay Water Solutions by 1.7% during the second quarter. King Luther Capital Management Corp now owns 168,358 shares of the company’s stock worth $4,950,000 after buying an additional 2,841 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Zurn Elkay Water Solutions by 17.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,118 shares of the company’s stock worth $297,000 after buying an additional 1,489 shares in the last quarter. Finally, MQS Management LLC increased its stake in Zurn Elkay Water Solutions by 13.4% during the second quarter. MQS Management LLC now owns 16,085 shares of the company’s stock valued at $473,000 after acquiring an additional 1,901 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 10,035 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now directly owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 23,574,164 shares of the company’s stock, valued at $684,593,722.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the sale, the director now owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. The disclosure for this sale can be found here. Insiders have sold a total of 190,812 shares of company stock worth $5,865,786 over the last 90 days. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.4 %

Shares of ZWS stock opened at $34.84 on Monday. 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 company has a market capitalization of $6.02 billion, a P/E ratio of 49.07, a P/E/G ratio of 1.80 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $35.18. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $31.48.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly 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. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business had revenue of $412.00 million during the quarter, compared to analyst estimates of $409.14 million. During the same quarter last year, the business posted $0.24 earnings per share. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast 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 declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 reissued 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.