Aberdeen Group plc Invests $1.14 Million in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Aberdeen Group plc has invested approximately $1.14 million in Zurn Elkay Water Solutions, acquiring 34,634 shares in the company during the first quarter.
• Zurn Elkay Water Solutions reported a record quarterly revenue of $444.50 million, surpassing analyst estimates, along with an earnings per share of $0.42 for the quarter.
• The company recently declared a quarterly dividend of $0.09 per share, with a dividend yield of 0.8%, reflecting a payout ratio of 35.64%.

Aberdeen Group plc acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,634 shares of the company's stock, valued at approximately $1,142,000.

Several other hedge funds have also made changes to their positions in ZWS. Dimensional Fund Advisors LP boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,155,734 shares of the company's stock worth $80,411,000 after purchasing an additional 164,332 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 6.9% during the fourth quarter. MetLife Investment Management LLC now owns 87,307 shares of the company's stock worth $3,257,000 after purchasing an additional 5,622 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 35.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 63,845 shares of the company's stock worth $2,381,000 after purchasing an additional 16,555 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 11.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,051 shares of the company's stock worth $3,621,000 after purchasing an additional 9,795 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth $656,000. 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 $44.4370 on Friday. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $45.90. The stock has a market capitalization of $7.45 billion, a P/E ratio of 44.00, a PEG ratio of 2.43 and a beta of 1.03. 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 business's fifty day moving average price is $39.56 and its 200 day moving average price is $36.13.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) 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. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The company had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. During the same period last year, the company posted $0.33 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is 35.64%.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total value of $4,750,437.30. Following the transaction, the vice president directly owned 94,330 shares of the company's stock, valued at $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of the firm's 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 completion of the transaction, the director directly owned 180,000 shares in the company, valued at $7,871,400. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock worth $6,501,529 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZWS. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Robert W. Baird reduced their target price on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $38.00.

Zurn Elkay Water Solutions Cor Company 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.

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