Baird Financial Group Inc. Grows Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Baird Financial Group Inc. increased its position in Zurn Elkay Water Solutions Corp (NYSE:ZWS) by 34.8% during the first quarter, holding a total of 57,825 shares valued at approximately $1.9 million.
• Zurn Elkay Water Solutions reported $0.42 EPS for the last quarter, surpassing analysts' estimates of $0.36, and achieving a 10.78% net margin with revenue up 7.9% year-over-year.
• The company declared a quarterly dividend of $0.09 per share, translating to an annualized yield of 0.8% with a payout ratio of 35.64%.

Baird Financial Group Inc. increased its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 34.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,825 shares of the company's stock after purchasing an additional 14,938 shares during the period. Baird Financial Group Inc.'s holdings in Zurn Elkay Water Solutions Cor were worth $1,907,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. HM Payson & Co. purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $37,000. Federated Hermes Inc. boosted its position in Zurn Elkay Water Solutions Cor by 3,687.2% in 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. Archer Investment Corp purchased a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $99,000. Central Pacific Bank Trust Division boosted its position in Zurn Elkay Water Solutions Cor by 31.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after buying an additional 1,040 shares during the period. Finally, Crestline Management LP purchased a new stake in Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $243,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.0%

NYSE:ZWS opened at $45.94 on Monday. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $46.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The firm has a market cap of $7.70 billion, a P/E ratio of 45.48, a P/E/G ratio of 2.47 and a beta of 1.07. The firm has a 50-day simple moving average of $41.73 and a 200-day simple moving average of $36.81.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results 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 net margin of 10.78% and a return on equity of 15.23%. The business had revenue of $444.50 million during the quarter, compared to analyst estimates of $424.55 million. During the same quarter in the previous year, the business posted $0.33 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is currently 35.64%.

Analyst Ratings Changes

ZWS has been the subject of several research reports. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.00.

Insider Activity

In other news, Director Timothy J. Jahnke sold 9,857 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $45.06, for a total value of $444,156.42. Following the completion of the sale, the director owned 328,964 shares in the company, valued at approximately $14,823,117.84. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were 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 owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,930 shares of company stock valued at $6,501,529. Company insiders own 2.60% of the company's stock.

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.

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