LPL Financial LLC Buys 2,103 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

LPL Financial LLC raised its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWSFree Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,183 shares of the company’s stock after buying an additional 2,103 shares during the period. LPL Financial LLC owned about 0.06% of Zurn Elkay Water Solutions Cor worth $3,238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ZWS. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Zurn Elkay Water Solutions Cor by 4.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,824 shares of the company’s stock valued at $2,303,000 after purchasing an additional 3,024 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 9.7% in the 1st quarter. Pacer Advisors Inc. now owns 6,907 shares of the company’s stock worth $228,000 after acquiring an additional 613 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter worth $537,000. Cetera Investment Advisers grew its holdings in Zurn Elkay Water Solutions Cor by 5.6% in the 1st quarter. Cetera Investment Advisers now owns 21,703 shares of the company’s stock worth $716,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 3.6% in the 1st quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company’s stock worth $322,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Down 1.6%

Shares of Zurn Elkay Water Solutions Cor stock opened at $44.66 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The stock has a market capitalization of $7.48 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $45.90. The company has a 50-day simple moving average of $38.87 and a two-hundred day simple moving average of $35.95.

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

Zurn Elkay Water Solutions Cor Announces Dividend

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

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the transaction, the vice president directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the transaction, the director directly owned 180,000 shares of the company’s stock, valued at $7,871,400. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,930 shares of company stock valued at $6,501,529 over the last three months. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ZWS. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Hold” and an average price target of $38.00.

Get Our Latest Analysis on Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Cor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions Cor (NYSE:ZWS)

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