Perbak Capital Partners LLP Invests $461,000 in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Perbak Capital Partners LLP acquired 13,967 shares of Zurn Elkay Water Solutions Cor for approximately $461,000 in the first quarter, highlighting ongoing interest from institutional investors in the company.
• Zurn Elkay reported earnings of $0.42 per share, exceeding analysts' estimates of $0.36, with quarterly revenue rising by 7.9% to $444.50 million.
• The company announced a quarterly dividend of $0.09 per share, which is set to yield 0.8% annually, reflecting a payout ratio of 35.64%.

Perbak Capital Partners LLP acquired a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,967 shares of the company's stock, valued at approximately $461,000.

Several other hedge funds have also bought and sold shares of the business. HM Payson & Co. purchased a new position in Zurn Elkay Water Solutions Cor in the first 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 valued at $59,000 after buying an additional 1,733 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $99,000. Central Pacific Bank Trust Division grew its holdings in shares of 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 buying an additional 1,040 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $216,000. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock traded down $0.01 during midday trading on Friday, reaching $45.94. 709,112 shares of the company traded hands, compared to its average volume of 809,515. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The business has a 50 day moving average of $41.73 and a two-hundred day moving average of $36.79. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $46.60. 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 issued its quarterly earnings data 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 company had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th were paid 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 was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's payout ratio is currently 35.64%.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of the 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 transaction, the vice president directly owned 94,330 shares in the company, 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 accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was 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. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock worth $6,501,529 over the last quarter. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased 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 target on shares of Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.00.

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.