Petrus Trust Company LTA Makes New $229,000 Investment in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Petrus Trust Company LTA has acquired a new position in Zurn Elkay Water Solutions, purchasing 6,951 shares valued at approximately $229,000 during the 1st quarter.
• Insider transactions revealed that VP Sudhanshu Chhabra sold 108,930 shares for over $4.75 million, representing a significant 53.59% decrease in his ownership.
• Zurn Elkay reported a 7.9% increase in revenue year-over-year and exceeded earnings expectations with $0.42 EPS for the latest quarter.

Petrus Trust Company LTA bought a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,951 shares of the company's stock, valued at approximately $229,000.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in Zurn Elkay Water Solutions Cor during the 1st quarter valued at about $265,000. Royal Bank of Canada grew its stake in Zurn Elkay Water Solutions Cor by 1.5% in the 1st quarter. Royal Bank of Canada now owns 597,698 shares of the company's stock worth $19,712,000 after acquiring an additional 8,822 shares in the last quarter. Amundi boosted its stake in shares of Zurn Elkay Water Solutions Cor by 5.9% during the first quarter. Amundi now owns 981,427 shares of the company's stock valued at $30,136,000 after purchasing an additional 54,644 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter valued at approximately $448,000. Finally, LPL Financial LLC boosted its stake in shares of 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 purchasing an additional 2,103 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of "Hold" and a consensus price target of $38.50.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the company's 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 represents a 53.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of the company's 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 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 90 days, insiders sold 166,774 shares of company stock worth $7,350,011. Company insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS traded up $0.47 on Monday, reaching $47.15. The stock had a trading volume of 166,101 shares, compared to its average volume of 994,947. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $47.71. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $42.65 and its two-hundred day moving average price is $37.21. The company has a market cap of $7.90 billion, a P/E ratio of 46.72, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.42 EPS 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 quarter in the previous year, the company earned $0.33 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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