Jefferies Financial Group Inc. Has $373,000 Stock Position in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Zurn Elkay Water Solutions Cor by 81.7%, selling 50,403 shares during the 1st quarter, resulting in a stock position worth $373,000.
• The company's recent earnings report shows revenue growth of 7.9% year-over-year, with an earnings per share (EPS) of $0.42, surpassing analysts' expectations of $0.36.
• Zurn Elkay Water Solutions Cor has announced a quarterly dividend of $0.09 per share, reflecting an annualized dividend yield of 0.8% and a payout ratio of 35.64%.

Jefferies Financial Group Inc. lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 81.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,319 shares of the company's stock after selling 50,403 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Zurn Elkay Water Solutions Cor were worth $373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor during the 1st quarter worth about $37,000. Federated Hermes Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after buying an additional 1,733 shares in the last quarter. Archer Investment Corp bought a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter valued at approximately $99,000. Central Pacific Bank Trust Division grew its stake in shares of Zurn Elkay Water Solutions Cor by 31.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock worth $145,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth $209,000. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock traded down $0.44 during mid-day trading on Friday, hitting $44.11. 720,771 shares of the company's stock traded hands, compared to its average volume of 1,416,231. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The firm has a 50 day simple moving average of $37.98 and a two-hundred day simple moving average of $35.76. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $45.00. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 2.37 and a beta of 1.03.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, 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 transaction of $4,750,437.30. Following the transaction, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Pauli sold 2,706 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following the completion of the sale, the chief financial officer directly owned 60,772 shares of the company's stock, valued at $2,255,248.92. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,700 shares of company stock worth $7,121,794 over the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

ZWS has been the subject of a number of recent research reports. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Robert W. Baird cut their price objective on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor has an average rating of "Hold" and an average price target of $38.00.

Zurn Elkay Water Solutions Cor Profile

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.