Zurn Elkay Water Solutions Cor $ZWS Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,698 shares of the company’s stock after buying an additional 8,822 shares during the period. Royal Bank of Canada owned about 0.36% of Zurn Elkay Water Solutions Cor worth $19,712,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at approximately $37,000. Federated Hermes Inc. boosted its holdings in shares of 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 during the period. Archer Investment Corp acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter worth $99,000. Central Pacific Bank Trust Division lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock worth $145,000 after purchasing an additional 1,040 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Zurn Elkay Water Solutions Cor in the first quarter valued at $216,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 1.8%

Shares of Zurn Elkay Water Solutions Cor stock opened at $45.83 on Wednesday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $46.76. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $42.10 and a 200-day simple moving average of $36.95.

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

Zurn Elkay Water Solutions Cor Announces Dividend

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

Insider Activity

In related news, Director Timothy J. Jahnke sold 9,857 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total value of $444,156.42. Following the completion of the sale, the director directly owned 328,964 shares of the company’s stock, valued at approximately $14,823,117.84. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the transaction, the vice president directly owned 94,330 shares in the company, valued at approximately $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,930 shares of company stock valued at $6,501,529. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on 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. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.00.

About Zurn Elkay Water Solutions Cor

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.