Triodos Investment Management BV Increases Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Triodos Investment Management BV increased its stake in Zurn Elkay Water Solutions Cor by 10.4% during the second quarter, owning approximately 88,000 shares valued at $3.2 million.
• Several firms upgraded their ratings on ZWS, with Oppenheimer raising the price target from $48.00 to $52.00 and maintaining an "outperform" rating.
• Zurn Elkay Water Solutions reported earnings of $0.42 per share, exceeding estimates, and achieved a revenue increase of 7.9% year-over-year.

Triodos Investment Management BV lifted its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,000 shares of the company's stock after buying an additional 8,300 shares during the period. Triodos Investment Management BV owned approximately 0.05% of Zurn Elkay Water Solutions Cor worth $3,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZWS. HM Payson & Co. purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $37,000. Federated Hermes Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Zurn Elkay Water Solutions Cor by 137.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company's stock worth $83,000 after buying an additional 1,310 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $99,000. Finally, IFP Advisors Inc lifted its stake in Zurn Elkay Water Solutions Cor by 12.5% in the second quarter. IFP Advisors Inc now owns 3,058 shares of the company's stock valued at $112,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZWS. Oppenheimer upped their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday. Finally, Stifel Nicolaus boosted 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 report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of "Hold" and an average target price of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $46.77 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $48.42. 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 market cap of $7.84 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. The firm's fifty day moving average price is $46.00 and its 200-day moving average price is $38.87.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to analyst estimates 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 firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts expect 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

Insiders Place Their Bets

In related news, Director Timothy J. Jahnke sold 20,000 shares of the 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 transaction, the director owned 180,000 shares of the company's stock, valued at $7,871,400. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction 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 in the company, 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 three months, insiders sold 168,930 shares of company stock worth $7,452,507. 2.60% of the stock is owned by insiders.

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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