New Age Alpha Advisors LLC Sells 9,926 Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Zurn Elkay Water Solutions Corporation by 57.7% during the first quarter, holding 7,290 shares valued at approximately $240,000.
• Insider trading has seen significant activity, with CFO David J. Pauli selling 2,706 shares and Director Timothy J. Jahnke selling 20,000 shares, indicating a 4.26% and 10% decrease in their respective ownership stakes.
• Analysts have mixed opinions on the stock, with two analysts giving it a buy rating and four analysts suggesting hold, resulting in an average price target of $38.00.

New Age Alpha Advisors LLC lowered its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 57.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,290 shares of the company's stock after selling 9,926 shares during the quarter. New Age Alpha Advisors LLC's holdings in Zurn Elkay Water Solutions Cor were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 28.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,990 shares of the company's stock valued at $329,000 after purchasing an additional 2,193 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 18.2% in the 1st quarter. Natixis Advisors LLC now owns 25,144 shares of the company's stock worth $829,000 after buying an additional 3,877 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock valued at $59,000 after buying an additional 1,733 shares during the period. LPL Financial LLC boosted its stake in Zurn Elkay Water Solutions Cor by 2.2% during the first quarter. LPL Financial LLC now owns 98,183 shares of the company's stock valued at $3,238,000 after buying an additional 2,103 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zurn Elkay Water Solutions Cor by 4.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,824 shares of the company's stock valued at $2,303,000 after buying an additional 3,024 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded up $0.95 during midday trading on Tuesday, reaching $45.32. The stock had a trading volume of 1,214,811 shares, compared to its average volume of 1,006,472. The firm's fifty day simple moving average is $38.16 and its 200-day simple moving average is $35.76. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $45.42. The stock has a market capitalization of $7.59 billion, a P/E ratio of 44.87, a PEG ratio of 2.37 and a beta of 1.03. 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 released its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million during the quarter, compared to analysts' expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities research 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 firm also recently announced 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 35.64%.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, CFO David J. Pauli sold 2,706 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.11, for a total transaction of $100,419.66. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares in the company, valued at $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 quarter, insiders have sold 141,779 shares of company stock worth $6,157,792. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

ZWS has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target 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. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Finally, Robert W. Baird decreased their price target on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.