Zurn Elkay Water Solutions Co. (NYSE:ZWS) Holdings Trimmed by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,137 shares of the company’s stock after selling 530 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Zurn Elkay Water Solutions were worth $1,478,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sei Investments Co. raised its holdings 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 worth $6,209,000 after purchasing an additional 21,081 shares in the last quarter. Hsbc Holdings PLC grew its position in Zurn Elkay Water Solutions by 209.9% in the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after buying an additional 55,970 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Zurn Elkay Water Solutions by 4.1% in the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter valued at $431,000. Finally, AQR Capital Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter worth $1,068,000. 83.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the sale, the chief executive officer now directly owns 2,242,867 shares in the company, valued at $89,333,392.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on 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 sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,688 shares of company stock worth $8,400,151 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target 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. Oppenheimer raised 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 research note on Tuesday, October 22nd. Finally, Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.17.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $39.41 on Thursday. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1 year low of $27.55 and a 1 year high of $40.64. The firm’s fifty day simple moving average is $35.64 and its 200 day simple moving average is $32.67. The firm has a market capitalization of $6.69 billion, a PE ratio of 49.89, a PEG ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. On average, 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

Zurn Elkay Water Solutions 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.