American Century Companies Inc. Acquires 3,615 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

American Century Companies Inc. raised its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,778 shares of the company’s stock after acquiring an additional 3,615 shares during the period. American Century Companies Inc.’s holdings in Zurn Elkay Water Solutions were worth $1,081,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tortoise Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 76.7% during 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 in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions during the second quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after purchasing an additional 1,267 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Zurn Elkay Water Solutions by 649.1% during the first quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter valued at about $76,000. Institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Oppenheimer reissued an “outperform” rating and set a $37.00 price target on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.17.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the business’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 value 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 is available through this link. In other news, Director Timothy J. Jahnke sold 4,086 shares of the business’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 in the company, valued at $12,854,060.99. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. The disclosure for this sale can be found here. Over the last three months, 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.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $35.93 on Tuesday. The stock’s 50 day moving average is $32.10 and its 200 day moving average is $31.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The firm has a market cap of $6.20 billion, a P/E ratio of 50.60, a P/E/G ratio of 1.87 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 $36.06.

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, beating the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

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.