United Services Automobile Association Invests $285,000 in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• United Services Automobile Association acquired 8,652 shares of Zurn Elkay Water Solutions, valued at approximately $285,000, during the first quarter.
• Zurn Elkay Water Solutions reported earnings per share of $0.42 for the last quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 7.9%.
• After recent trading activity, insiders sold a total of 166,774 shares in the last 90 days, representing a significant decrease in their holdings.

United Services Automobile Association acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,652 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Zurn Elkay Water Solutions Cor by 2.4% in the first quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock valued at $523,094,000 after acquiring an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company's stock worth $448,714,000 after buying an additional 42,277 shares during the period. Invesco Ltd. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 1.9% in the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company's stock worth $197,591,000 after purchasing an additional 110,932 shares in the last quarter. Beck Mack & Oliver LLC lifted its stake in Zurn Elkay Water Solutions Cor by 2.5% during the 1st quarter. Beck Mack & Oliver LLC now owns 3,572,869 shares of the company's stock valued at $117,833,000 after acquiring an additional 87,303 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock valued at $56,577,000 after acquiring an additional 729,920 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analysts Set New Price Targets

ZWS has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded up $0.76 on Thursday, hitting $47.97. The stock had a trading volume of 122,111 shares, compared to its average volume of 997,127. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 47.51, a price-to-earnings-growth ratio of 2.54 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 business's 50-day simple moving average is $43.24 and its two-hundred day simple moving average is $37.43. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $48.42.

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. 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 analysts' expectations of $424.55 million. During the same period last year, the firm posted $0.33 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was 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 payout ratio is presently 35.64%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 17,844 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Friday, September 12th. The stock was sold at an average price of $47.55, for a total transaction of $848,482.20. Following the completion of the sale, the director directly owned 311,120 shares of the company's stock, valued at $14,793,756. The trade was a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor 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 sale, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,774 shares of company stock worth $7,350,011. Corporate insiders own 2.60% of the company's stock.

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.