Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Creative Planning

Creative Planning grew its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 37.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,771 shares of the company’s stock after acquiring an additional 15,729 shares during the quarter. Creative Planning’s holdings in Zurn Elkay Water Solutions Cor were worth $2,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZWS. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $26,000. First Horizon Advisors Inc. raised its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Federated Hermes Inc. raised 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 worth $59,000 after buying an additional 1,733 shares during the last quarter. CWM LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 33.8% during the second quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after buying an additional 454 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 137.6% during the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock valued at $83,000 after buying an additional 1,310 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the transaction, the director owned 162,000 shares of the company’s stock, valued at approximately $7,695,000. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 40,100 shares of company stock worth $1,911,084 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $48.10 on Wednesday. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $50.03. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.05 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The business has a 50-day simple moving average of $46.74 and a 200-day simple moving average of $42.40.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The company had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. During the same period last year, the business earned $0.34 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 39.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, September 12th. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a report on Friday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Finally, Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Moderate Buy” and an average price target of $42.83.

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.