Truvestments Capital LLC Takes $638,000 Position in Zurn Elkay Water Solutions Cor $ZWS

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 bought a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,359 shares of the company's stock, valued at approximately $638,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st 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 valued at $59,000 after buying an additional 1,733 shares during the last quarter. Archer Investment Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at about $99,000. Central Pacific Bank Trust Division grew its position 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 valued at $145,000 after buying an additional 1,040 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 4th quarter valued at about $221,000. Institutional investors own 83.33% of the company's stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 9,857 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing 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 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 $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,930 shares of company stock valued at $6,501,529 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock traded down $0.51 during trading on Friday, reaching $45.38. 719,297 shares of the company's stock were exchanged, compared to its average volume of 1,012,264. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $46.60. The firm has a market cap of $7.60 billion, a PE ratio of 32.63, a P/E/G ratio of 2.43 and a beta of 1.03. The company's fifty day moving average price is $40.83 and its 200-day moving average price is $36.46. 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 (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating 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 company had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. During the same period last year, the company earned $0.33 earnings per share. The company's quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ZWS shares. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Zurn Elkay Water Solutions Cor 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.