Intech Investment Management LLC Purchases 19,959 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Intech Investment Management LLC increased its holdings in Zurn Elkay Water Solutions Corp by 36.4% during the first quarter, owning a total of 74,842 shares valued at approximately $2.47 million.
• Insider transactions included VP Sudhanshu Chhabra selling 108,930 shares at an average price of $43.61, reflecting a 53.59% decrease in his position.
• Zurn Elkay Water Solutions Corp experienced a 1.4% stock increase, with a current market capitalization of nearly $7.93 billion, and it recently announced a quarterly dividend of $0.09 per share.

Intech Investment Management LLC grew its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 36.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,842 shares of the company's stock after buying an additional 19,959 shares during the period. Intech Investment Management LLC's holdings in Zurn Elkay Water Solutions Cor were worth $2,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZWS. Venturi Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.6% in the 1st quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company's stock worth $322,000 after acquiring an additional 336 shares during the period. Axxcess Wealth Management LLC increased its holdings in Zurn Elkay Water Solutions Cor by 3.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 9,461 shares of the company's stock valued at $312,000 after purchasing an additional 358 shares in the last quarter. Choreo LLC increased its holdings in Zurn Elkay Water Solutions Cor by 3.3% during the 1st quarter. Choreo LLC now owns 12,295 shares of the company's stock valued at $405,000 after purchasing an additional 395 shares in the last quarter. Heritage Family Offices LLP increased its holdings in Zurn Elkay Water Solutions Cor by 4.7% during the 1st quarter. Heritage Family Offices LLP now owns 11,575 shares of the company's stock valued at $382,000 after purchasing an additional 517 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. Xponance Inc. now owns 12,142 shares of the company's stock worth $400,000 after acquiring an additional 595 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

ZWS has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, September 12th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Down 2.1%

ZWS stock traded down $1.02 during trading on Friday, reaching $46.92. 3,107,833 shares of the stock were exchanged, compared to its average volume of 952,773. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $48.42. The firm's 50 day moving average is $43.62 and its 200 day moving average is $37.61. The firm has a market cap of $7.86 billion, a P/E ratio of 46.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to analysts' expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 35.64%.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 2,156 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total transaction of $102,496.24. Following the sale, the director directly owned 308,964 shares in the company, valued at $14,688,148.56. The trade was a 0.69% 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, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,930 shares of company stock valued at $7,452,507. 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.