Creative Planning Raises Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Creative Planning raised its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 17.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,101 shares of the company’s stock after purchasing an additional 2,281 shares during the period. Creative Planning’s holdings in Zurn Elkay Water Solutions were worth $444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZWS. Vanguard Group Inc. boosted its holdings in shares of Zurn Elkay Water Solutions by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock worth $404,041,000 after purchasing an additional 131,683 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at $76,000. Los Angeles Capital Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter worth $1,004,000. Perpetual Ltd raised its holdings in shares of Zurn Elkay Water Solutions by 9.5% during the 1st quarter. Perpetual Ltd now owns 168,916 shares of the company’s stock worth $5,654,000 after acquiring an additional 14,701 shares during the period. Finally, Thrive Wealth Management LLC acquired a new position in shares of Zurn Elkay Water Solutions during the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.8 %

Shares of NYSE ZWS opened at $36.60 on Wednesday. The stock has a fifty day simple moving average of $33.20 and a 200-day simple moving average of $31.92. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $37.38. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.32 billion, a PE ratio of 51.55, a PEG ratio of 1.93 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued 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. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share 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. Shareholders of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 owns 385,017 shares in the company, valued at $12,717,111.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZWS. Oppenheimer restated an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. 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. Finally, Stifel Nicolaus raised their price objective on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

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.