Zurn Elkay Water Solutions Cor $ZWS Shares Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd increased its Zurn Elkay Water Solutions holdings by 22.1% in the third quarter, bringing its position to 338,944 shares valued at approximately $15.75 million. Institutional investors collectively own 83.33% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $57.44. Recent targets range from $55 to $62.
• Zurn Elkay exceeded quarterly expectations, reporting $0.50 in earnings per share versus the $0.47 consensus and revenue of $491 million. The company also pays a quarterly dividend of $0.11, representing a 0.9% annualized yield.

Perpetual Ltd lifted its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 22.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 338,944 shares of the company's stock after buying an additional 61,277 shares during the period. Perpetual Ltd owned 0.20% of Zurn Elkay Water Solutions Cor worth $15,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kilter Group LLC bought a new position in Zurn Elkay Water Solutions Cor in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $27,000. Assetmark Inc. grew its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock valued at $38,000 after purchasing an additional 292 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $49,000. Finally, Vega Investment Solutions acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZWS. Royal Bank Of Canada raised their price target on Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Barclays upped their price objective on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Stifel Nicolaus raised their target price on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $58.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.44.

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $46.88 on Tuesday. The company has a 50-day moving average price of $48.11 and a two-hundred day moving average price of $48.36. Zurn Elkay Water Solutions Cor has a 52 week low of $43.06 and a 52 week high of $55.00. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $491.00 million for the quarter, compared to analysts' expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.83 EPS for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 27.16%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler bought 2,016 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company's stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.

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