Walleye Capital LLC Has $224,000 Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Walleye Capital LLC lowered its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 57.1% in the third quarter, HoldingsChannel reports. The firm owned 6,220 shares of the company’s stock after selling 8,276 shares during the period. Walleye Capital LLC’s holdings in Zurn Elkay Water Solutions were worth $224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tortoise Investment Management LLC raised its position in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after purchasing an additional 373 shares during the period. Quarry LP increased its position in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares during the period. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the second quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the third quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Zurn Elkay Water Solutions by 732.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after buying an additional 1,267 shares during the period. Institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZWS. Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their target price on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.17.

Zurn Elkay Water Solutions Price Performance

ZWS opened at $40.67 on Wednesday. Zurn Elkay Water Solutions Co. has a 52-week low of $27.55 and a 52-week high of $41.15. The stock has a market cap of $6.90 billion, a P/E ratio of 51.81, a PEG ratio of 2.05 and a beta of 1.14. The business has a fifty day moving average of $38.06 and a 200 day moving average of $33.69. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same period last year, the business earned $0.29 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

Insider Activity

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 210,088 shares of company stock valued at $7,884,883 in the last three months. 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.