Teza Capital Management LLC Sells 10,709 Shares of Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Teza Capital Management LLC significantly reduced its position in Zurn Elkay Water Solutions, selling 10,709 shares and lowering its holdings by 56.7% during the first quarter.
• Analysts maintain a consensus rating of "Hold" for Zurn Elkay Water Solutions, with price targets ranging from $36.00 to $50.00, reflecting varying optimism about the company's performance.
• Zurn Elkay Water Solutions recently reported a net margin of 10.78% with a quarterly revenue of $444.50 million, representing a 7.9% increase year-over-year.

Teza Capital Management LLC lowered its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 56.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,169 shares of the company's stock after selling 10,709 shares during the period. Teza Capital Management LLC's holdings in Zurn Elkay Water Solutions Cor were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZWS. HM Payson & Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $37,000. Federated Hermes Inc. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock valued at $59,000 after acquiring an additional 1,733 shares during the last quarter. Archer Investment Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $99,000. Central Pacific Bank Trust Division lifted its stake in shares of Zurn Elkay Water Solutions Cor by 31.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock valued at $145,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $216,000. Institutional investors own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $38.50.

Insider Activity at Zurn Elkay Water Solutions Cor

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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 17,844 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $47.55, for a total value of $848,482.20. Following the completion of the sale, the director owned 311,120 shares in the company, valued at $14,793,756. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 166,774 shares of company stock worth $7,350,011 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Down 1.3%

Shares of ZWS stock traded down $0.61 during midday trading on Friday, reaching $46.66. 891,915 shares of the stock were exchanged, compared to its average volume of 903,649. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $47.71. The company's 50 day moving average is $42.65 and its two-hundred day moving average is $37.21. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.82 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million for the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

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.