16,296 Shares in Zurn Elkay Water Solutions Cor (NYSE:ZWS) Bought by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management acquired 16,296 shares of Zurn Elkay Water Solutions Cor, valued at approximately $537,000, as disclosed in its Form 13F filing.
• Analysts have mixed ratings on Zurn Elkay Water Solutions Cor, with Goldman Sachs reducing the price target to $34.00 while Stifel Nicolaus increased it to $43.00, reflecting an average rating of "Hold."
• The company reported a quarterly EPS of $0.31, exceeding estimates, along with a dividend payout of $0.09 scheduled for September 5th, indicating a 0.94% yield.

Neo Ivy Capital Management acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,296 shares of the company's stock, valued at approximately $537,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZWS. HM Payson & Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at about $37,000. Caisse Des Depots ET Consignations acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at approximately $82,000. Archer Investment Corp acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $99,000. Central Pacific Bank Trust Division increased its holdings in shares of Zurn Elkay Water Solutions Cor by 31.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock worth $145,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter worth about $209,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ZWS shares. BNP Paribas cut Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 target price on the stock. in a research report on Wednesday, April 9th. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Robert W. Baird decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group cut their target price on Zurn Elkay Water Solutions Cor from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.86.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 25,921 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $37.19, for a total value of $964,001.99. Following the completion of the sale, the vice president directly owned 94,132 shares of the company's stock, valued at $3,500,769.08. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total value of $100,419.66. Following the completion of the sale, the chief financial officer directly owned 60,772 shares of the company's stock, valued at approximately $2,255,248.92. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Trading Up 14.2%

Shares of Zurn Elkay Water Solutions Cor stock traded up $5.44 during trading on Wednesday, hitting $43.71. The stock had a trading volume of 1,170,276 shares, compared to its average volume of 957,081. The stock has a market cap of $7.35 billion, a PE ratio of 44.15, a PEG ratio of 2.37 and a beta of 0.99. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $43.83. The firm's fifty day simple moving average is $36.69 and its 200-day simple moving average is $35.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.72.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 14.43% and a net margin of 10.72%. The business had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. During the same period last year, the company earned $0.33 earnings per share. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 36.36%.

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.