Janney Montgomery Scott LLC Sells 7,734 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Janney Montgomery Scott LLC reduced its stake in Zurn Elkay Water Solutions by 4.0%, selling 7,734 shares but still holding approximately 186,312 shares valued at $6.81 million.
• Institutional investors currently own 83.33% of Zurn Elkay's stock, with notable increases from firms like Federated Hermes and Public Employees Retirement System of Ohio.
• Analyst ratings for Zurn Elkay Water Solutions show a consensus of "Hold" with an average target price of $40.50, though some firms have set higher price targets of up to $53.00.

Janney Montgomery Scott LLC trimmed its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,312 shares of the company's stock after selling 7,734 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.11% of Zurn Elkay Water Solutions Cor worth $6,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $37,000. Federated Hermes Inc. grew its position in Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after acquiring an additional 1,733 shares during the last quarter. GAMMA Investing LLC grew its position in Zurn Elkay Water Solutions Cor by 137.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company's stock worth $83,000 after acquiring an additional 1,310 shares during the last quarter. Archer Investment Corp bought a new position in Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $99,000. Finally, Public Employees Retirement System of Ohio grew its position in Zurn Elkay Water Solutions Cor by 376.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,462 shares of the company's stock worth $163,000 after acquiring an additional 3,526 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer increased their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of "Hold" and an average target price of $40.50.

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 2,156 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total value of $102,496.24. Following the sale, the director directly owned 308,964 shares of the company's stock, valued at approximately $14,688,148.56. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the 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 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. Over the last three months, insiders sold 168,930 shares of company stock worth $7,452,507. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Trading Up 0.0%

Zurn Elkay Water Solutions Cor stock opened at $46.92 on Monday. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $48.42. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. The business's fifty day simple moving average is $45.51 and its two-hundred day simple moving average is $38.57. 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 (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.42 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 firm had revenue of $444.50 million for the quarter, compared to analysts' expectations of $424.55 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

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.

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