Zurn Elkay Water Solutions Cor $ZWS Holdings Reduced by Swiss National Bank

Key Points

• Swiss National Bank's stake in Zurn Elkay Water Solutions Cor has decreased by 2.2% to 279,500 shares, valued at approximately $9.22 million.
• Analysts have mixed ratings for the stock, with target prices ranging from $36.00 to $50.00, and an average target price of $38.00.
• The company reported $0.42 EPS for the last quarter, exceeding analysts' expectations and reflecting a 7.9% year-over-year increase in revenue.

Swiss National Bank lowered its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,500 shares of the company's stock after selling 6,200 shares during the quarter. Swiss National Bank owned 0.17% of Zurn Elkay Water Solutions Cor worth $9,218,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth $265,000. Y Intercept Hong Kong Ltd acquired a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth $448,000. LPL Financial LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 2.2% in the 1st quarter. LPL Financial LLC now owns 98,183 shares of the company's stock worth $3,238,000 after buying an additional 2,103 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 3,250.8% in the 1st quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock worth $952,000 after buying an additional 30,460 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 28.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,990 shares of the company's stock worth $329,000 after buying an additional 2,193 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 9,857 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were 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. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the sale, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,930 shares of company stock valued at $6,501,529. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Down 0.7%

Shares of ZWS traded down $0.33 during midday trading on Thursday, hitting $44.90. The company had a trading volume of 75,558 shares, compared to its average volume of 995,516. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. Zurn Elkay Water Solutions Cor has a 52 week low of $27.74 and a 52 week high of $45.90. The company's 50 day moving average price is $39.39 and its 200 day moving average price is $36.10. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 2.43 and a beta of 1.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced 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 business had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 20th will be given 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 of this dividend is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

Analysts Set New Price Targets

ZWS has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Finally, Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus 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.