Thematics Asset Management Decreases Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Thematics Asset Management has reduced its stake in Zurn Elkay Water Solutions by 32.7%, selling 81,094 shares and retaining 0.10% ownership of the company worth approximately $5.5 million.
• Analysts have recently set new target prices for Zurn Elkay Water Solutions, with Stifel Nicolaus increasing its price target to $50.00 and two analysts rating the stock as a Buy, while four rate it as a Hold.
• Zurn Elkay Water Solutions reported earnings with an EPS of $0.42, exceeding estimates, and announced a quarterly dividend of $0.09 per share, with a 0.8% yield.

Thematics Asset Management lowered its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,277 shares of the company's stock after selling 81,094 shares during the period. Thematics Asset Management owned approximately 0.10% of Zurn Elkay Water Solutions Cor worth $5,517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. HM Payson & Co. purchased a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at $37,000. Federated Hermes Inc. raised its stake in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock valued at $59,000 after acquiring an additional 1,733 shares during the period. Archer Investment Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth about $99,000. Central Pacific Bank Trust Division boosted its stake in shares of Zurn Elkay Water Solutions Cor by 31.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock worth $145,000 after purchasing an additional 1,040 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $221,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated 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 trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the business'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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,930 shares of company stock worth $6,501,529. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average target price of $38.00.

Zurn Elkay Water Solutions Cor Stock Down 1.5%

ZWS traded down $0.69 on Thursday, hitting $45.87. The company had a trading volume of 800,995 shares, compared to its average volume of 994,176. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 2.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The stock has a fifty day moving average price of $40.42 and a 200-day moving average price of $36.34. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $46.60.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the firm posted $0.33 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 20th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

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.