ProShare Advisors LLC Sells 6,771 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

ProShare Advisors LLC trimmed its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 25.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,835 shares of the company’s stock after selling 6,771 shares during the quarter. ProShare Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $583,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Tortoise Investment Management LLC boosted its holdings in shares of 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 buying an additional 373 shares during the period. MJP Associates Inc. ADV increased its holdings in Zurn Elkay Water Solutions by 5.5% during the 2nd quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after purchasing an additional 534 shares in the last quarter. Arizona State Retirement System increased its holdings in Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after purchasing an additional 561 shares in the last quarter. Everpar Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 4.5% in the second quarter. Everpar Advisors LLC now owns 14,731 shares of the company’s stock valued at $433,000 after purchasing an additional 631 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 2.8% in the second quarter. Advisor OS LLC now owns 29,362 shares of the company’s stock valued at $863,000 after purchasing an additional 799 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Stock Up 1.6 %

NYSE:ZWS opened at $35.66 on Monday. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $36.05. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.14. 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’s 50 day moving average price is $32.01 and its two-hundred day moving average price is $31.59.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued 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 business had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Equities 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. Investors of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 annualized dividend and a yield of 0.90%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.07%.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price 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. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.17.

Insider Activity at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now directly owns 389,399 shares in the company, valued at approximately $12,854,060.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was 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 approximately $12,854,060.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the transaction, the director now owns 385,017 shares in the company, valued at $12,717,111.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,572 shares of company stock worth $2,721,672. Insiders own 3.80% of the company’s stock.

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.