Renaissance Technologies LLC Grows Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Renaissance Technologies LLC boosted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 775.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,693 shares of the company’s stock after buying an additional 194,600 shares during the period. Renaissance Technologies LLC owned approximately 0.13% of Zurn Elkay Water Solutions worth $6,459,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake 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 valued at $49,846,000 after acquiring an additional 465,701 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Zurn Elkay Water Solutions by 19.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,369 shares of the company’s stock valued at $511,000 after purchasing an additional 2,778 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Zurn Elkay Water Solutions by 8.6% in the second quarter. Envestnet Asset Management Inc. now owns 845,155 shares of the company’s stock valued at $24,848,000 after purchasing an additional 66,754 shares during the period. Qsemble Capital Management LP lifted its stake in Zurn Elkay Water Solutions by 32.7% during the second quarter. Qsemble Capital Management LP now owns 15,033 shares of the company’s stock worth $442,000 after purchasing an additional 3,702 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Zurn Elkay Water Solutions by 10.9% during the second quarter. American Century Companies Inc. now owns 36,778 shares of the company’s stock worth $1,081,000 after buying an additional 3,615 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ZWS. Deutsche Bank Aktiengesellschaft increased their target price on 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. Oppenheimer reissued an “outperform” rating and set 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 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and a consensus target price of $35.17.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $34.70 on Thursday. The business has a 50-day simple moving average of $31.77 and a 200-day simple moving average of $31.51. The company has a market cap of $5.93 billion, a PE ratio of 48.87, a P/E/G ratio of 1.84 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $35.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company 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 company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a 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 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In related news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction that occurred 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 owns 80,151 shares in the company, valued at $2,608,915.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Aimee Katz sold 8,240 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.14, for a total value of $240,113.60. Following the completion of the sale, the insider now directly owns 23,565,924 shares of the company’s stock, valued at approximately $686,711,025.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s 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 completion of the sale, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,812 shares of company stock valued at $5,865,786. 3.80% of the stock is currently owned by corporate insiders.

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.