Campbell & CO Investment Adviser LLC Increases Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Campbell & CO Investment Adviser LLC significantly increased its stake in Zurn Elkay Water Solutions Cor by 266.7% to approximately $1.43 million during the first quarter.
• Zurn Elkay reported a quarterly earnings per share (EPS) of $0.42, exceeding analyst expectations, with a year-over-year revenue increase of 7.9%.
• The company declared a $0.09 quarterly dividend, reflecting an annualized dividend yield of 0.8% and a payout ratio of 35.64%.

Campbell & CO Investment Adviser LLC boosted its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 266.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,196 shares of the company's stock after purchasing an additional 31,415 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Zurn Elkay Water Solutions Cor were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ZWS. Ameriprise Financial Inc. lifted its position in Zurn Elkay Water Solutions Cor by 74.1% in the first quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock valued at $56,577,000 after purchasing an additional 729,920 shares during the period. Nuveen LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at approximately $21,273,000. Vanguard Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock valued at $523,094,000 after acquiring an additional 371,635 shares during the period. Janus Henderson Group PLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 6.5% during the 4th quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock valued at $149,444,000 after acquiring an additional 245,258 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of Zurn Elkay Water Solutions Cor by 45.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company's stock valued at $17,606,000 after acquiring an additional 166,080 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on 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 directly owned 328,964 shares of the company's stock, valued at approximately $14,823,117.84. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Thursday, July 31st. The stock was 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 directly owned 94,330 shares of the company's stock, valued at $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,930 shares of company stock valued at $6,501,529 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus lifted their price target 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 research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average price target of $38.00.

Zurn Elkay Water Solutions Cor Price Performance

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.51 during trading on Friday, hitting $45.38. 719,297 shares of the company were exchanged, compared to its average volume of 912,705. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $46.60. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 44.93, a P/E/G ratio of 2.43 and a beta of 1.07. The firm has a 50 day moving average price of $40.83 and a 200 day moving average price of $36.46.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. During the same period in the previous year, the firm posted $0.33 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.64%.

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.