AQR Capital Management LLC Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

AQR Capital Management LLC purchased a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,332 shares of the company’s stock, valued at approximately $1,068,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after purchasing an additional 131,683 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 2.1% in the second 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 in the last quarter. Crescent Grove Advisors LLC lifted its position in Zurn Elkay Water Solutions by 8.4% during the first quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company’s stock valued at $77,139,000 after buying an additional 178,861 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 24.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after buying an additional 339,892 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after buying an additional 465,701 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS opened at $36.52 on Friday. The firm’s 50-day moving average price is $32.93 and its 200-day moving average price is $31.88. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $36.86. The company has a market cap of $6.24 billion, a PE ratio of 46.82, a PEG ratio of 1.95 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.

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, 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 period in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 41.03%.

Analyst Ratings Changes

ZWS has been the topic of several research reports. Oppenheimer reissued an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their price target 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. 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 research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of “Moderate Buy” and an average price target of $36.40.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is owned by 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.