Quantbot Technologies LP Has $1.45 Million Stock 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 grew its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1,115.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,971 shares of the company's stock after acquiring an additional 40,352 shares during the period. Quantbot Technologies LP's holdings in Zurn Elkay Water Solutions Cor were worth $1,450,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth approximately $265,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter worth $448,000. LPL Financial LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 2.2% in the first 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 stake in shares of Zurn Elkay Water Solutions Cor by 3,250.8% in the first 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 stake in shares of Zurn Elkay Water Solutions Cor by 28.1% in the first 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 owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares of the company's stock, 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 90 days, insiders sold 148,930 shares of company stock valued at $6,501,529. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ZWS. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Mizuho set a $36.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.00.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded down $0.54 during trading hours on Thursday, hitting $46.01. 119,713 shares of the company traded hands, compared to its average volume of 989,803. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 45.55, a P/E/G ratio of 2.47 and a beta of 1.03. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $46.60. The firm has a 50-day moving average of $40.42 and a 200 day moving average of $36.34. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to analysts' expectations of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, September 5th. Investors 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 is presently 35.64%.

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.