VIRGINIA RETIREMENT SYSTEMS ET Al Invests $380,000 in Zurn Elkay Water Solutions Cor $ZWS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,400 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors have also recently made changes to their positions in ZWS. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth $265,000. Sequoia Financial Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth $2,642,000. Perpetual Ltd grew its stake in shares of Zurn Elkay Water Solutions Cor by 23.4% in the 1st quarter. Perpetual Ltd now owns 264,396 shares of the company’s stock worth $8,720,000 after acquiring an additional 50,207 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Zurn Elkay Water Solutions Cor by 2.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 77,158 shares of the company’s stock worth $2,545,000 after acquiring an additional 2,126 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Zurn Elkay Water Solutions Cor by 11.3% in the 1st quarter. DAVENPORT & Co LLC now owns 9,523 shares of the company’s stock worth $314,000 after acquiring an additional 964 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 2,156 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $14,688,148.56. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the 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 completion of the sale, 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 ninety days, insiders have sold 168,930 shares of company stock worth $7,452,507. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $46.41 on Friday. The company has a market cap of $7.78 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $48.42. 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 firm’s 50-day simple moving average is $46.34 and its two-hundred day simple moving average is $40.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS 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 the consensus estimate 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 company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

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.