Lbp Am Sa Has $8.74 Million Stake in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Lbp Am Sa reduced its stake in Zurn Elkay Water Solutions Cor by 3.7% in Q2, now holding approximately $8.74 million worth of stock.
• Analysts have set new price targets, with Oppenheimer increasing ZWS's target from $48.00 to $52.00 and Stifel Nicolaus raising it from $50.00 to $53.00, reflecting positive outlooks.
• The company recently declared a quarterly dividend of $0.09 per share, yielding approximately 0.8%, with a payout ratio of 35.64%.

Lbp Am Sa trimmed its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,060 shares of the company's stock after selling 9,243 shares during the quarter. Lbp Am Sa owned approximately 0.14% of Zurn Elkay Water Solutions Cor worth $8,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock valued at $523,094,000 after buying an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company's stock valued at $448,714,000 after buying an additional 42,277 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 1.9% during the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company's stock valued at $197,591,000 after buying an additional 110,932 shares during the last quarter. Beck Mack & Oliver LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 2.5% during the 1st quarter. Beck Mack & Oliver LLC now owns 3,572,869 shares of the company's stock valued at $117,833,000 after buying an additional 87,303 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock valued at $56,577,000 after buying an additional 729,920 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor 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 stock was 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 of the company's stock, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the transaction, the director directly owned 180,000 shares in the company, valued at approximately $7,871,400. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,930 shares of company stock worth $7,452,507. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

ZWS has been the topic of a number of recent analyst reports. Oppenheimer raised 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, September 17th. Stifel Nicolaus raised 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 analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of "Hold" and an average price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Down 0.5%

Shares of ZWS stock opened at $46.81 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The stock's 50 day simple moving average is $45.16 and its 200 day simple moving average is $38.32. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 2.52 and a beta of 1.09. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $48.42.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly 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. The company had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

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.

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