Zurn Elkay Water Solutions Cor $ZWS Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Zurn Elkay Water Solutions Corporation by 51.1%, holding 30,752 shares valued at approximately $1.01 million as of the end of the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., also boosted their holdings significantly, indicating strong interest in the company.
• Zurn Elkay Water Solutions recently announced a quarterly dividend of $0.09 per share, equating to an annual yield of 0.8%, with a payout ratio of 35.64%.

Jump Financial LLC grew its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 51.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,752 shares of the company's stock after acquiring an additional 10,403 shares during the quarter. Jump Financial LLC's holdings in Zurn Elkay Water Solutions Cor were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock worth $523,094,000 after buying an additional 371,635 shares during the period. Invesco Ltd. increased its stake in Zurn Elkay Water Solutions Cor by 1.9% in the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company's stock worth $197,591,000 after buying an additional 110,932 shares during the period. Janus Henderson Group PLC increased its stake in Zurn Elkay Water Solutions Cor by 6.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock worth $149,444,000 after buying an additional 245,258 shares during the period. Northern Trust Corp increased its stake in Zurn Elkay Water Solutions Cor by 6.4% in the 4th quarter. Northern Trust Corp now owns 1,873,521 shares of the company's stock worth $69,882,000 after buying an additional 112,050 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Zurn Elkay Water Solutions Cor by 74.1% in the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock worth $56,577,000 after buying an additional 729,920 shares during the period. Hedge funds and other institutional investors own 83.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho set a $36.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor has a consensus rating of "Hold" and a consensus target price of $38.00.

Zurn Elkay Water Solutions Cor Stock Down 1.2%

NYSE ZWS traded down $0.56 during trading on Wednesday, reaching $44.57. 287,586 shares of the company's stock traded hands, compared to its average volume of 988,555. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $46.60. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. 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 company's 50 day simple moving average is $41.19 and its two-hundred day simple moving average is $36.59.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $424.55 million. During the same period last year, the business earned $0.33 EPS. The company's revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th will be issued 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 is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 94,330 shares in the company, valued at $4,113,731.30. This trade represents a 53.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $45.06, for a total transaction of $444,156.42. Following the completion of the sale, the director owned 328,964 shares of the company's stock, valued at $14,823,117.84. This trade represents a 2.91% 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 90 days. Company insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Company 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.