Charles Schwab Investment Management Inc. Lowers Stock Holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Charles Schwab Investment Management Inc. trimmed its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 0.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,919,717 shares of the company’s stock after selling 15,818 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.14% of Zurn Elkay Water Solutions Cor worth $63,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after acquiring an additional 371,635 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 28.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,990 shares of the company’s stock valued at $329,000 after buying an additional 2,193 shares during the period. Natixis Advisors LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 18.2% in the 1st quarter. Natixis Advisors LLC now owns 25,144 shares of the company’s stock valued at $829,000 after buying an additional 3,877 shares during the period. Federated Hermes Inc. raised its holdings in Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after acquiring an additional 1,733 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Zurn Elkay Water Solutions Cor by 2.2% in the first quarter. LPL Financial LLC now owns 98,183 shares of the company’s stock valued at $3,238,000 after acquiring an additional 2,103 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZWS has been the topic of several analyst reports. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.00.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the transaction, the vice president owned 94,330 shares of the company’s stock, valued at $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the transaction, the director directly owned 328,964 shares in the company, valued at approximately $14,823,117.84. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,930 shares of company stock valued at $6,501,529. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock opened at $45.41 on Friday. The business has a 50 day moving average price of $38.71 and a 200 day moving average price of $35.94. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 2.46 and a beta of 1.03. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $45.90. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to analysts’ expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.64%.

Zurn Elkay Water Solutions Cor 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.