KLP Kapitalforvaltning AS Has $1.15 Million Holdings in Zurn Elkay Water Solutions Cor $ZWS

KLP Kapitalforvaltning AS raised its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,500 shares of the company’s stock after buying an additional 3,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Zurn Elkay Water Solutions Cor were worth $1,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZWS. HM Payson & Co. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter worth approximately $37,000. Federated Hermes Inc. increased its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after acquiring an additional 1,733 shares in the last quarter. GAMMA Investing LLC grew its position in Zurn Elkay Water Solutions Cor by 137.6% in the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock valued at $83,000 after purchasing an additional 1,310 shares in the last quarter. Archer Investment Corp bought a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $99,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Zurn Elkay Water Solutions Cor by 376.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,462 shares of the company’s stock valued at $163,000 after acquiring an additional 3,526 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ZWS shares. Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Hold” and an average target price of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $46.44 on Wednesday. The firm has a 50 day moving average of $46.10 and a 200-day moving average of $39.16. The stock has a market capitalization of $7.78 billion, a PE ratio of 45.98, a PEG ratio of 2.46 and a beta of 1.09. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $48.42.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.Zurn Elkay Water Solutions Cor’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, equities research analysts predict 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 declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is 35.64%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related 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 shares were 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. The trade was a 53.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 2,156 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred 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 sale, the director directly owned 308,964 shares in the company, valued at $14,688,148.56. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,930 shares of company stock worth $7,452,507 over the last ninety days. 2.60% of the stock is currently owned by insiders.

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.