Zurn Elkay Water Solutions Cor (NYSE:ZWS) Shares Purchased by Invesco Ltd.

Invesco Ltd. lifted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,991,234 shares of the company's stock after acquiring an additional 110,932 shares during the quarter. Invesco Ltd. owned 3.56% of Zurn Elkay Water Solutions Cor worth $197,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZWS. Venturi Wealth Management LLC lifted 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 valued at $322,000 after purchasing an additional 336 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 3.9% during the first 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 lifted its holdings in Zurn Elkay Water Solutions Cor by 3.3% during the first 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. Summit Investment Advisors Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after purchasing an additional 477 shares in the last quarter. Finally, Heritage Family Offices LLP lifted its holdings in Zurn Elkay Water Solutions Cor by 4.7% during the first 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. Institutional investors and hedge funds own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Price Performance

ZWS traded down $0.74 on Friday, reaching $44.66. 1,066,225 shares of the company's stock were exchanged, compared to its average volume of 1,440,508. The stock has a market cap of $7.48 billion, a PE ratio of 44.22, a P/E/G ratio of 2.44 and a beta of 1.03. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $45.90. The stock's fifty day moving average price is $38.87 and its 200-day moving average price is $35.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on ZWS. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Robert W. Baird decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of "Hold" and a consensus price target of $38.00.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 20,000 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.73, for a total value of $874,600.00. Following the transaction, the director directly owned 180,000 shares in the company, valued at $7,871,400. The trade was a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the transaction, the vice president owned 94,330 shares in the company, 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 worth $6,501,529 over the last quarter. 2.60% of the stock is currently owned by company 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.