Citigroup Inc. Purchases 16,873 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Citigroup Inc. increased its stake in Zurn Elkay Water Solutions by 6.4% during the first quarter, owning approximately 0.17% of the company post-purchase.
• Several hedge funds significantly modified their positions, with First Trust Advisors LP boosting its holdings by 184.0% and Vanguard Group Inc. increasing by 2.4%.
• The company reported earnings of $0.42 per share for the last quarter, exceeding analysts' estimates by $0.06, with revenue of $444.50 million, reflecting a 7.9% year-over-year growth.

Citigroup Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 282,086 shares of the company's stock after buying an additional 16,873 shares during the period. Citigroup Inc. owned about 0.17% of Zurn Elkay Water Solutions Cor worth $9,303,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth $265,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth $448,000. LPL Financial LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.2% during the 1st quarter. LPL Financial LLC now owns 98,183 shares of the company's stock worth $3,238,000 after buying an additional 2,103 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 3,250.8% during the 1st quarter. GAMMA Investing LLC now owns 31,397 shares of the company's stock worth $952,000 after buying an additional 30,460 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 28.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,990 shares of the company's stock worth $329,000 after buying an additional 2,193 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.8%

Shares of NYSE ZWS traded down $0.35 during trading on Thursday, reaching $44.88. The company had a trading volume of 75,558 shares, compared to its average volume of 995,516. The company's fifty day moving average price is $39.39 and its 200-day moving average price is $36.10. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $45.90. The stock has a market cap of $7.52 billion, a P/E ratio of 44.46, a PEG ratio of 2.43 and a beta of 1.03. 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 released 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 firm had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. During the same quarter in the previous year, the company posted $0.33 EPS. The business's revenue was up 7.9% on a year-over-year basis. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio is presently 35.64%.

Analyst Ratings Changes

Several analysts recently weighed in on ZWS shares. Robert W. Baird dropped their price objective on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor presently has an average rating of "Hold" and an average target price of $38.00.

Insider Activity at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of the 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 transaction, the vice president owned 94,330 shares in the company, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 180,000 shares of the company's stock, valued at approximately $7,871,400. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,930 shares of company stock worth $6,501,529. Corporate insiders own 2.60% of the company's stock.

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.