Voya Investment Management LLC Boosts Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Voya Investment Management LLC increased its stake in Zurn Elkay Water Solutions Cor by 39.8%, now holding 105,039 shares valued at approximately $3.46 million.
• Insider trading activity revealed that VP Sudhanshu Chhabra sold 108,930 shares, resulting in a significant 53.59% decrease in their ownership stake.
• Analysts have revised target prices for Zurn Elkay Water Solutions Cor, with Stifel Nicolaus raising theirs from $50.00 to $53.00, and Oppenheimer from $48.00 to $52.00, indicating strong market confidence.

Voya Investment Management LLC boosted its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 39.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,039 shares of the company's stock after buying an additional 29,878 shares during the quarter. Voya Investment Management LLC owned 0.06% of Zurn Elkay Water Solutions Cor worth $3,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Venturi Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 9,777 shares of the company's stock worth $322,000 after purchasing an additional 336 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.9% during the first quarter. Axxcess Wealth Management LLC now owns 9,461 shares of the company's stock worth $312,000 after purchasing an additional 358 shares during the last quarter. Choreo LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3.3% during the first quarter. Choreo LLC now owns 12,295 shares of the company's stock worth $405,000 after purchasing an additional 395 shares during the last quarter. Heritage Family Offices LLP lifted its position in shares of Zurn Elkay Water Solutions Cor by 4.7% during the first quarter. Heritage Family Offices LLP now owns 11,575 shares of the company's stock worth $382,000 after purchasing an additional 517 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 5.2% during the first quarter. Xponance Inc. now owns 12,142 shares of the company's stock worth $400,000 after purchasing an additional 595 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 owned 94,330 shares in the company, valued at $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 2,156 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total value of $102,496.24. Following the completion of the sale, the director owned 308,964 shares in the company, valued at approximately $14,688,148.56. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,930 shares of company stock worth $7,452,507. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZWS shares. 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 report on Friday, September 12th. Oppenheimer lifted their target price on 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $46.92 on Friday. The firm has a market capitalization of $7.86 billion, a P/E ratio of 46.46, a PEG ratio of 2.57 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 50 day moving average price of $43.62 and a 200 day moving average price of $37.61. 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 issued its 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. 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 return on equity of 15.23% and a net margin of 10.78%.Zurn Elkay Water Solutions Cor's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current 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 given a $0.09 dividend. The ex-dividend date 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 dividend payout ratio is currently 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.

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