Intech Investment Management LLC Increases Holdings in 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 increased its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 36.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,842 shares of the company's stock after buying an additional 19,959 shares during the quarter. Intech Investment Management LLC's holdings in Zurn Elkay Water Solutions Cor were worth $2,468,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Venturi Wealth Management LLC grew its holdings in Zurn Elkay Water Solutions Cor by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company's stock worth $322,000 after buying an additional 336 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in Zurn Elkay Water Solutions Cor by 3.9% in 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 during the period. Choreo LLC grew its stake in Zurn Elkay Water Solutions Cor by 3.3% in 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 during the period. Heritage Family Offices LLP grew its stake in Zurn Elkay Water Solutions Cor by 4.7% in 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 during the period. Finally, Xponance Inc. grew its stake in Zurn Elkay Water Solutions Cor by 5.2% in the 1st quarter. Xponance Inc. now owns 12,142 shares of the company's stock valued at $400,000 after purchasing an additional 595 shares during the period. Institutional investors own 83.33% of the company's stock.

Analyst Ratings Changes

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 research note 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 research note on Friday, September 12th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

ZWS traded up $0.83 during trading on Thursday, reaching $48.04. 899,293 shares of the company were exchanged, compared to its average volume of 1,001,568. The company's 50-day moving average is $43.24 and its two-hundred day moving average is $37.43. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 2.54 and a beta of 1.07. 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 12-month low of $27.74 and a 12-month high of $48.42.

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 analysts' consensus estimates 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 business had revenue of $444.50 million for the quarter, compared to analysts' expectations of $424.55 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Research analysts forecast 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.64%.

Insider Activity

In other news, Director Timothy J. Jahnke sold 20,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.73, for a total transaction of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares of the company's stock, valued at approximately $7,871,400. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the transaction, the vice president directly owned 94,330 shares in the company, 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. Insiders have sold 168,930 shares of company stock valued at $7,452,507 in the last three months. 2.60% of the stock is owned by insiders.

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.