Engineers Gate Manager LP Has $2.88 Million Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Engineers Gate Manager LP more than doubled its Zurn Elkay Water Solutions stake in the second quarter, owning 56,915 shares valued at approximately $2.88 million. Institutional investors collectively hold 83.33% of the company.
• Zurn Elkay reported quarterly EPS of $0.50, beating estimates by $0.03, while revenue reached $491 million, up 10.5% year over year. The company also maintains a quarterly dividend of $0.11 per share, yielding about 1.0% annually.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $57.44, above its reported opening price of $46.22.

Engineers Gate Manager LP raised its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 114.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,915 shares of the company's stock after acquiring an additional 30,320 shares during the quarter. Engineers Gate Manager LP's holdings in Zurn Elkay Water Solutions Cor were worth $2,876,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Andina Capital Management LLC increased its position in shares of Zurn Elkay Water Solutions Cor by 1.6% during the 4th quarter. Andina Capital Management LLC now owns 12,618 shares of the company's stock worth $587,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its stake in Zurn Elkay Water Solutions Cor by 0.5% during the second quarter. Arizona State Retirement System now owns 41,607 shares of the company's stock worth $2,102,000 after buying an additional 220 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 24.2% during the fourth quarter. UMB Bank n.a. now owns 1,233 shares of the company's stock worth $57,000 after buying an additional 240 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after buying an additional 292 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 9.8% in the second quarter. GAMMA Investing LLC now owns 3,708 shares of the company's stock valued at $187,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock opened at $46.22 on Monday. The company has a 50 day moving average price of $48.84 and a 200 day moving average price of $48.47. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The stock has a market capitalization of $7.67 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is 27.16%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler purchased 2,016 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ZWS shares. Barclays increased their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Robert W. Baird set a $58.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.44.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a water solutions company that designs, manufactures and supplies products used to manage, conserve, control and promote the safe use of water. Its offerings serve commercial, institutional, industrial and residential applications across plumbing, drainage and water-management systems.

The company's product portfolio includes plumbing fixtures and fittings, commercial faucets, flush valves, showers, drains, roof and floor drainage products, backflow-prevention devices, water-quality and filtration systems, drinking-water products, and related accessories.

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