Public Sector Pension Investment Board Grows Position in Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Zurn Elkay Water Solutions Corp by 27.6%, owning approximately 0.27% of the company worth $14,941,000 as of the latest reporting period.
• Zurn Elkay recently reported $0.42 EPS for the quarter, surpassing analysts' expectations, with a revenue of $444.50 million, up 7.9% year-over-year.
• The company declared a quarterly dividend of $0.09 per share, resulting in a 0.8% dividend yield based on current stock prices.

Public Sector Pension Investment Board increased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 453,017 shares of the company's stock after acquiring an additional 97,865 shares during the quarter. Public Sector Pension Investment Board owned about 0.27% of Zurn Elkay Water Solutions Cor worth $14,941,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can raised its stake in Zurn Elkay Water Solutions Cor by 9.5% in the fourth quarter. Bank of Montreal Can now owns 16,649 shares of the company's stock valued at $621,000 after purchasing an additional 1,449 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter valued at approximately $876,000. Summit Investment Advisors Inc. raised its stake in Zurn Elkay Water Solutions Cor by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,070 shares of the company's stock valued at $562,000 after purchasing an additional 477 shares in the last quarter. XTX Topco Ltd grew its position in Zurn Elkay Water Solutions Cor by 312.6% during the fourth quarter. XTX Topco Ltd now owns 26,859 shares of the company's stock valued at $1,002,000 after acquiring an additional 20,349 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at approximately $759,000. 83.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird dropped their price objective on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Finally, Stifel Nicolaus upped their target price on 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average price target of $38.00.

Zurn Elkay Water Solutions Cor Stock Down 1.0%

NYSE:ZWS traded down $0.44 during mid-day trading on Thursday, hitting $45.41. 888,518 shares of the company's stock were exchanged, compared to its average volume of 1,458,521. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $45.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The business has a fifty day moving average price of $38.71 and a 200 day moving average price of $35.94. The company has a market cap of $7.61 billion, a PE ratio of 44.96, a P/E/G ratio of 2.46 and a beta of 1.03.

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 the consensus estimate of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%. The business had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. During the same period in the previous year, the company posted $0.33 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's payout ratio is currently 35.64%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction 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 sale, the director owned 180,000 shares of the company's stock, valued at $7,871,400. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock valued at $6,501,529 in the last 90 days. Company insiders own 2.60% of the company's stock.

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.