Magnetar Financial LLC Has $731,000 Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Magnetar Financial LLC reduced its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,873 shares of the company’s stock after selling 3,994 shares during the quarter. Magnetar Financial LLC’s holdings in Zurn Elkay Water Solutions were worth $731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the second quarter worth $29,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after buying an additional 1,267 shares during the period. EntryPoint Capital LLC increased its position in shares of Zurn Elkay Water Solutions by 649.1% in the 1st quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock valued at $54,000 after buying an additional 1,389 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter worth $76,000. 83.33% of the stock is owned by institutional investors.

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 that occurred on Thursday, September 19th. The stock was sold at an average price of $35.00, for a total transaction of $351,225.00. Following the transaction, the director now owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions 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 transaction, the director now owns 374,982 shares in the company, valued at $13,124,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $134,878.86. Following the transaction, the director now directly owns 389,399 shares in the company, valued at $12,854,060.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,812 shares of company stock valued at $5,865,786. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on 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. Finally, Oppenheimer restated an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Four research 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 company has a consensus rating of “Hold” and a consensus target price of $35.17.

Zurn Elkay Water Solutions Stock 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 P/E ratio of 48.83, a P/E/G ratio of 1.84 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. The business has a 50-day moving average of $31.72 and a 200-day moving average of $31.49.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly 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. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a $0.08 dividend. 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 payout ratio is 45.07%.

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.