Zurn Elkay Water Solutions Cor $ZWS Shares Bought by IFP Advisors Inc

IFP Advisors Inc grew its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,058 shares of the company’s stock after acquiring an additional 339 shares during the quarter. IFP Advisors Inc’s holdings in Zurn Elkay Water Solutions Cor were worth $112,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company’s stock valued at $322,000 after acquiring an additional 336 shares during the period. Axxcess Wealth Management LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 3.9% during the first quarter. Axxcess Wealth Management LLC now owns 9,461 shares of the company’s stock valued at $312,000 after purchasing an additional 358 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Zurn Elkay Water Solutions Cor by 8.4% during the second quarter. Central Pacific Bank Trust Division now owns 4,771 shares of the company’s stock valued at $174,000 after purchasing an additional 371 shares in the last quarter. Choreo LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 3.3% during the first quarter. Choreo LLC now owns 12,295 shares of the company’s stock valued at $405,000 after purchasing an additional 395 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. Xponance Inc. now owns 12,142 shares of the company’s stock valued at $400,000 after purchasing an additional 595 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Price Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $45.76 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $46.20 and its two-hundred day moving average price is $39.43. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $48.42. The stock has a market cap of $7.67 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data 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 firm had revenue of $444.50 million for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. 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 payout ratio is 35.64%.

Insider Activity

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 dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.73, for a total value of $874,600.00. Following the transaction, the director directly owned 180,000 shares in the company, valued at approximately $7,871,400. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,930 shares of company stock worth $7,452,507. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of recent analyst reports. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.50.

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.