Ballentine Partners LLC Takes $222,000 Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Ballentine Partners LLC has acquired a new stake in Zurn Elkay Water Solutions Corp valued at approximately $222,000, purchasing 6,078 shares.
• The company reported earnings of $0.42 EPS for the last quarter, exceeding analysts' expectations and showing a 7.9% increase in revenue year-over-year.
• Zurn Elkay recently declared a quarterly dividend of $0.09, resulting in an annualized yield of 0.8%, reflecting a dividend payout ratio of 35.64%.

Ballentine Partners LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,078 shares of the company's stock, valued at approximately $222,000.

A number of other hedge funds also recently made changes to their positions in ZWS. HM Payson & Co. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at approximately $37,000. Federated Hermes Inc. grew 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 acquiring an additional 1,733 shares during the period. GAMMA Investing LLC boosted its stake in Zurn Elkay Water Solutions Cor by 137.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company's stock worth $83,000 after purchasing an additional 1,310 shares during the period. Archer Investment Corp bought a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $99,000. Finally, Central Pacific Bank Trust Division boosted its stake in Zurn Elkay Water Solutions Cor by 8.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,771 shares of the company's stock worth $174,000 after purchasing an additional 371 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Up 0.2%

NYSE ZWS opened at $46.89 on Tuesday. 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 company has a market capitalization of $7.86 billion, a P/E ratio of 46.43, a P/E/G ratio of 2.50 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $48.42. The stock has a 50 day moving average price of $44.77 and a 200-day moving average price of $38.20.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.Zurn Elkay Water Solutions Cor's revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 2,156 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total value of $102,496.24. Following the completion of the sale, the director directly owned 308,964 shares in the company, valued at $14,688,148.56. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the firm's stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,930 shares of company stock valued at $7,452,507. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer upped their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor 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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