Graham Capital Management L.P. Boosts Position in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Graham Capital Management L.P. has increased its holdings in Zurn Elkay Water Solutions by 111%, acquiring an additional 40,920 shares, bringing its total ownership to 77,770 shares valued at approximately $2.57 million.
• Several institutional investors have also adjusted their positions, with significant increases, leading to a total of 83.33% institutional ownership in Zurn Elkay Water Solutions.
• Zurn Elkay reported $444.5 million in revenue for its latest quarter, exceeding estimates, and announced a quarterly dividend of $0.09 per share with a yield of 0.8%.

Graham Capital Management L.P. lifted its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 111.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,770 shares of the company's stock after purchasing an additional 40,920 shares during the quarter. Graham Capital Management L.P.'s holdings in Zurn Elkay Water Solutions Cor were worth $2,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $265,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter valued at approximately $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 valued at $3,238,000 after buying an additional 2,103 shares in 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 valued at $952,000 after buying an additional 30,460 shares in 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 valued at $329,000 after buying an additional 2,193 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the transaction, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction 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 transaction, the director owned 180,000 shares in the company, valued at approximately $7,871,400. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,930 shares of company stock worth $6,501,529. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Cor Price Performance

ZWS stock traded down $0.45 during midday trading on Wednesday, reaching $44.67. The stock had a trading volume of 684,068 shares, compared to its average volume of 827,179. The company's fifty day simple moving average is $41.36 and its 200 day simple moving average is $36.65. 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 company has a market cap of $7.48 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $46.60.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company 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%.The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 35.64%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZWS. Stifel Nicolaus increased their target price on 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. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. 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.com, the company presently has an average rating of "Hold" and an average target price 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.