Strs Ohio Takes Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Strs Ohio acquired a new stake in Zurn Elkay Water Solutions, purchasing 13,300 shares worth approximately $439,000 during the 1st quarter of the year.
• Zurn Elkay reported earnings of $0.42 per share, exceeding estimates and showing a 7.9% year-over-year revenue increase to $444.50 million.
• The company's quarterly dividend of $0.09 was recently paid, reflecting a 0.8% dividend yield and a payout ratio of 35.64%.

Strs Ohio bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,300 shares of the company's stock, valued at approximately $439,000.

Other large investors have also made changes to their positions in the company. Zimmer Partners LP bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth about $50,344,000. Ameriprise Financial Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock worth $56,577,000 after acquiring an additional 729,920 shares during the last quarter. Nuveen LLC bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth about $21,273,000. Vanguard Group Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock worth $523,094,000 after acquiring an additional 371,635 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Zurn Elkay Water Solutions Cor by 45.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company's stock worth $17,606,000 after acquiring an additional 166,080 shares during the last quarter. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $47.06 on Tuesday. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $48.42. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $43.82 and its 200-day moving average is $37.73. The company has a market capitalization of $7.88 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 2.51 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 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $0.33 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) 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 the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the transaction, the director directly owned 180,000 shares of the company's stock, valued at approximately $7,871,400. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $4,750,437.30. Following the transaction, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,930 shares of company stock valued at $7,452,507 over the last three months. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ZWS. Oppenheimer increased their price objective on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Stifel Nicolaus raised their target price 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, September 12th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.50.

About Zurn Elkay Water Solutions Cor

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.

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