PDT Partners LLC Has $6.31 Million Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• PDT Partners LLC increased its holdings in Zurn Elkay Water Solutions Cor by 39.2%, now owning approximately 191,422 shares valued at $6.31 million.
• Insider transactions saw VP Sudhanshu Chhabra sell 108,930 shares, reducing ownership by 53.59%, while Director Timothy J. Jahnke decreased his position by 10% after selling 20,000 shares.
• The company reported earnings of $0.42 per share, surpassing analysts' expectations, alongside a quarterly revenue increase of 7.9% year-over-year.

PDT Partners LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 39.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,422 shares of the company's stock after purchasing an additional 53,883 shares during the period. PDT Partners LLC owned about 0.11% of Zurn Elkay Water Solutions Cor worth $6,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZWS. HM Payson & Co. purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $37,000. Federated Hermes Inc. grew its position in 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 valued at $59,000 after purchasing an additional 1,733 shares in the last quarter. Archer Investment Corp purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $99,000. Central Pacific Bank Trust Division grew its position in Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $216,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZWS shares. Stifel Nicolaus lifted 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 note on Thursday, July 31st. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.00.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction 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 approximately $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 9,857 shares of the business's stock in a transaction 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. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock valued at $6,501,529 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.45 on Wednesday, reaching $44.67. The stock had a trading volume of 684,068 shares, compared to its average volume of 827,179. The business's 50-day moving average price is $41.36 and its two-hundred day moving average price is $36.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $46.60. The stock has a market cap of $7.48 billion, a P/E ratio of 44.23, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $424.55 million. During the same period in the previous year, the company earned $0.33 earnings per share. Zurn Elkay Water Solutions Cor's revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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 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 is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's payout ratio is presently 35.64%.

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.