19,359 Shares in Zurn Elkay Water Solutions Cor $ZWS Purchased by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC has acquired a new stake in Zurn Elkay Water Solutions Cor, purchasing 19,359 shares valued at approximately $638,000.
• Zurn Elkay Water Solutions recently reported earnings of $0.42 per share for the quarter, surpassing analysts' expectations of $0.36, with revenues of $444.5 million.
• The company declared a quarterly dividend of $0.09 per share, with a yield of 0.8%, set to be paid on September 5th.

Truvestments Capital LLC purchased a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,359 shares of the company's stock, valued at approximately $638,000.

A number of other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 0.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company's stock valued at $448,714,000 after purchasing an additional 42,277 shares during the period. Mirova bought a new position in Zurn Elkay Water Solutions Cor during the first quarter worth $1,600,000. Campbell & CO Investment Adviser LLC increased its position in Zurn Elkay Water Solutions Cor by 266.7% during the first quarter. Campbell & CO Investment Adviser LLC now owns 43,196 shares of the company's stock worth $1,425,000 after acquiring an additional 31,415 shares during the period. Jump Financial LLC increased its position in Zurn Elkay Water Solutions Cor by 51.1% during the first quarter. Jump Financial LLC now owns 30,752 shares of the company's stock worth $1,014,000 after acquiring an additional 10,403 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Zurn Elkay Water Solutions Cor by 74.1% during the first 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 period. Institutional investors own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 9,857 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $45.06, for a total value of $444,156.42. Following the sale, the director owned 328,964 shares in the company, valued at approximately $14,823,117.84. The trade was a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction on 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 completion of the sale, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,930 shares of company stock worth $6,501,529 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock traded down $0.65 on Tuesday, hitting $44.71. The company's stock had a trading volume of 285,262 shares, compared to its average volume of 987,741. The firm has a market cap of $7.49 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. 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 company has a fifty day moving average price of $41.01 and a 200-day moving average price of $36.53. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $46.60.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million for 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 business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZWS. Mizuho set a $36.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. 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 equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $38.00.

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.