6,558 Shares in Zurn Elkay Water Solutions Cor $ZWS Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP has invested approximately $216,000 in Zurn Elkay Water Solutions Cor by acquiring 6,558 shares of the company's stock in the first quarter.
• Wall Street analysts are optimistic about Zurn Elkay Water Solutions Cor, with Stifel Nicolaus raising their price target from $43.00 to $50.00 and a current consensus target price of $38.00.
• The company recently reported a quarterly earnings per share (EPS) of $0.42, exceeding analysts' expectations of $0.36, highlighting a 7.9% increase in revenue year-over-year.

Trexquant Investment LP purchased a new stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,558 shares of the company's stock, valued at approximately $216,000.

Several other hedge funds have also made changes to their positions in ZWS. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor during the first quarter worth about $37,000. Federated Hermes Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after buying an additional 1,733 shares during the period. Archer Investment Corp acquired a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $99,000. Central Pacific Bank Trust Division grew its stake in Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after acquiring an additional 1,040 shares during the period. Finally, Humankind Investments LLC boosted its position in shares of Zurn Elkay Water Solutions Cor by 12.3% during the first quarter. Humankind Investments LLC now owns 6,887 shares of the company's stock worth $227,000 after buying an additional 754 shares during the period. Institutional investors own 83.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on ZWS shares. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Stifel Nicolaus boosted their price target 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 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, the stock presently has an average rating of "Hold" and an average price target of $38.50.

Insider Activity

In related news, Director Timothy J. Jahnke sold 17,844 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $47.55, for a total value of $848,482.20. Following the transaction, the director owned 311,120 shares of the company's stock, valued at approximately $14,793,756. This trade represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total value of $4,750,437.30. Following 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 166,774 shares of company stock valued at $7,350,011 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Trading Down 1.3%

Shares of Zurn Elkay Water Solutions Cor stock traded down $0.61 on Friday, reaching $46.66. The company had a trading volume of 891,915 shares, compared to its average volume of 912,365. The firm's 50-day moving average price is $42.65 and its two-hundred day moving average price is $37.18. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 2.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $47.71.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued 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 payout ratio is 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.