Exchange Traded Concepts LLC Trims Stake in Zurn Elkay Water Solutions Cor $ZWS

Exchange Traded Concepts LLC cut its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,624 shares of the company’s stock after selling 608 shares during the period. Exchange Traded Concepts LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $864,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division raised its holdings in Zurn Elkay Water Solutions Cor by 8.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,771 shares of the company’s stock valued at $174,000 after acquiring an additional 371 shares during the last quarter. Voya Investment Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 39.8% in the 1st quarter. Voya Investment Management LLC now owns 105,039 shares of the company’s stock valued at $3,464,000 after acquiring an additional 29,878 shares during the last quarter. Strs Ohio acquired a new position in Zurn Elkay Water Solutions Cor in the 1st quarter valued at $439,000. Intech Investment Management LLC raised its holdings in Zurn Elkay Water Solutions Cor by 36.4% in the 1st quarter. Intech Investment Management LLC now owns 74,842 shares of the company’s stock valued at $2,468,000 after acquiring an additional 19,959 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Zurn Elkay Water Solutions Cor by 5.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 488,985 shares of the company’s stock valued at $16,127,000 after acquiring an additional 24,348 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Trading Down 0.1%

ZWS stock opened at $46.90 on Wednesday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 2.51 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 $44.02 and a 200-day simple moving average of $37.80. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $48.42.

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

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis 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 35.64%.

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 2,156 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total transaction of $102,496.24. Following the completion of the sale, the director directly owned 308,964 shares of the company’s stock, valued at approximately $14,688,148.56. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction 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 sale, the vice president directly owned 94,330 shares of the company’s stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,930 shares of company stock valued at $7,452,507. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZWS shares. Oppenheimer boosted their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.50.

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.