King Luther Capital Management Corp Boosts Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

King Luther Capital Management Corp lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 168,358 shares of the company’s stock after buying an additional 2,841 shares during the period. King Luther Capital Management Corp’s holdings in Zurn Elkay Water Solutions were worth $4,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $34,000. Norges Bank purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $39,532,000. UBS Group AG lifted its position in shares of Zurn Elkay Water Solutions by 37.5% in the fourth quarter. UBS Group AG now owns 217,525 shares of the company’s stock valued at $6,397,000 after acquiring an additional 59,278 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Zurn Elkay Water Solutions by 2,110.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after acquiring an additional 2,206,508 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after purchasing an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 10,035 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the sale, the director now directly owns 374,982 shares in the company, valued at approximately $13,124,370. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Aimee Katz sold 100,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the completion of the transaction, the insider now owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction that occurred 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 completion of 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. In the last ninety days, insiders sold 190,812 shares of company stock worth $5,865,786. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ZWS shares. Oppenheimer restated an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Stifel Nicolaus upped 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 research note 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.17.

Zurn Elkay Water Solutions Trading Down 0.5 %

Shares of ZWS opened at $34.82 on Friday. 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 market capitalization of $6.01 billion, a P/E ratio of 49.04, a P/E/G ratio of 1.80 and a beta of 1.14. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $31.48. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $409.14 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast 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 declared 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 0.92%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

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.