Quantbot Technologies LP Raises Holdings in Zurn Elkay Water Solutions Cor $ZWS

Key Points

• Quantbot Technologies LP significantly increased its stake in Zurn Elkay Water Solutions Corp by 1,115.0% during the first quarter, acquiring a total of 43,971 shares worth approximately $1,450,000.
• Zurn Elkay reported earnings of $0.42 per share, exceeding analyst expectations, with revenues of $444.5 million, a 7.9% increase year-over-year.
• The company announced a quarterly dividend of $0.09 per share, translating to an annualized yield of 0.8%, to be paid on September 5th.

Quantbot Technologies LP increased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1,115.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,971 shares of the company's stock after purchasing an additional 40,352 shares during the quarter. Quantbot Technologies LP's holdings in Zurn Elkay Water Solutions Cor were worth $1,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth about $37,000. Federated Hermes Inc. increased its position in Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after purchasing an additional 1,733 shares during the period. Archer Investment Corp acquired a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth about $99,000. Central Pacific Bank Trust Division increased its position in Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company's stock worth $145,000 after purchasing an additional 1,040 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in Zurn Elkay Water Solutions Cor in the fourth quarter worth about $221,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Up 0.9%

Shares of Zurn Elkay Water Solutions Cor stock traded up $0.40 during midday trading on Wednesday, hitting $46.45. The company had a trading volume of 267,918 shares, compared to its average volume of 992,088. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The stock has a market capitalization of $7.78 billion, a P/E ratio of 46.00, a P/E/G ratio of 2.46 and a beta of 1.03. The company has a 50 day moving average of $40.20 and a 200 day moving average of $36.27. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $46.46.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company 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 firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 35.64%.

Insider Buying and Selling 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 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 sale, the vice president directly owned 94,330 shares in the company, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 9,857 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $45.06, for a total value of $444,156.42. Following the sale, the director owned 328,964 shares in the company, valued at approximately $14,823,117.84. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,930 shares of company stock worth $6,501,529. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZWS shares. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock 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 equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and a consensus target price of $38.00.

Zurn Elkay Water Solutions Cor Company 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.