Ensign Peak Advisors Inc Sells 740 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Ensign Peak Advisors Inc cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,794 shares of the company’s stock after selling 740 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Zurn Elkay Water Solutions were worth $2,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sei Investments Co. boosted its stake in shares of Zurn Elkay Water Solutions by 11.1% in the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock valued at $6,209,000 after purchasing an additional 21,081 shares in the last quarter. King Luther Capital Management Corp boosted its position in Zurn Elkay Water Solutions by 1.7% in the second quarter. King Luther Capital Management Corp now owns 168,358 shares of the company’s stock valued at $4,950,000 after buying an additional 2,841 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Zurn Elkay Water Solutions by 17.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,118 shares of the company’s stock worth $297,000 after buying an additional 1,489 shares during the last quarter. MQS Management LLC increased its holdings in shares of Zurn Elkay Water Solutions by 13.4% during the second quarter. MQS Management LLC now owns 16,085 shares of the company’s stock worth $473,000 after buying an additional 1,901 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Zurn Elkay Water Solutions by 209.9% during the 2nd quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after acquiring an additional 55,970 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ZWS shares. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer reissued 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. According to MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and an average target price of $35.17.

Insider Activity

In related news, Director Timothy J. Jahnke sold 4,086 shares of the firm’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 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 $12,854,060.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions 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 sale, the director now directly owns 385,017 shares of the company’s stock, valued at $12,717,111.51. The disclosure for this sale can be found here. Insiders have sold 90,812 shares of company stock valued at $2,961,786 in the last ninety days. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $35.66 on Friday. The firm has a market cap of $6.10 billion, a P/E ratio of 50.23, a P/E/G ratio of 1.87 and a beta of 1.14. The stock’s 50 day moving average is $32.01 and its 200 day moving average is $31.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. Zurn Elkay Water Solutions Co. has a one year low of $25.09 and a one year high of $36.05.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted 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. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect 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 given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. 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.