Zurn Elkay Water Solutions Cor $ZWS Holdings Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,706 shares of the company’s stock after acquiring an additional 48,163 shares during the period. Fisher Asset Management LLC owned about 0.48% of Zurn Elkay Water Solutions Cor worth $29,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Whittier Trust Co. purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after buying an additional 1,733 shares during the period. CWM LLC grew its holdings in shares of Zurn Elkay Water Solutions Cor by 33.8% during the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after acquiring an additional 454 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter worth $80,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Activity

In related news, Director Timothy J. Jahnke sold 7,461 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the sale, the director owned 162,000 shares in the company, valued at $7,695,000. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,100 shares of company stock valued at $1,911,084 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

ZWS has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on 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. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Mizuho set a $49.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

Zurn Elkay Water Solutions Cor Stock Up 0.2%

ZWS opened at $47.86 on Wednesday. The firm has a market cap of $8.01 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. The business has a 50 day moving average price of $46.81 and a 200 day moving average price of $42.78. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Research analysts forecast 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. Shareholders 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 positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 39.29%.

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.