Zurn Elkay Water Solutions Cor $ZWS Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its holdings in Zurn Elkay Water Solutions by 1.5%, owning roughly 0.36% of the company, worth approximately $19.7 million.
• Zurn Elkay reported $0.42 EPS for the last quarter, exceeding the consensus estimate of $0.36, with a revenue growth of **7.9%** year-over-year.
• The company declared a quarterly dividend of $0.09, resulting in a yield of **0.8%**, with a modest dividend payout ratio of **35.64%**.

Royal Bank of Canada grew its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 597,698 shares of the company's stock after purchasing an additional 8,822 shares during the period. Royal Bank of Canada owned approximately 0.36% of Zurn Elkay Water Solutions Cor worth $19,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ZWS. Ameriprise Financial Inc. lifted its stake in shares of Zurn Elkay Water Solutions Cor by 74.1% in the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company's stock valued at $56,577,000 after purchasing an additional 729,920 shares during the last quarter. Nuveen LLC purchased a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $21,273,000. Vanguard Group Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock valued at $523,094,000 after acquiring an additional 371,635 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Zurn Elkay Water Solutions Cor by 6.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,006,596 shares of the company's stock valued at $149,444,000 after acquiring an additional 245,258 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Zurn Elkay Water Solutions Cor by 45.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company's stock valued at $17,606,000 after acquiring an additional 166,080 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ZWS shares. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday. Mizuho set a $36.00 price target on Zurn Elkay Water Solutions Cor in a research note 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $38.50.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related 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 completion of the transaction, the vice president directly owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 directly owned 180,000 shares of the company's stock, valued at approximately $7,871,400. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,774 shares of company stock valued at $7,350,011. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS traded down $0.61 during mid-day trading on Friday, hitting $46.66. The company's stock had a trading volume of 891,915 shares, compared to its average volume of 912,365. 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 50-day simple moving average of $42.65 and a 200 day simple moving average of $37.18. The firm has a market capitalization of $7.82 billion, a P/E ratio of 46.20, a P/E/G ratio of 2.54 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $47.71.

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 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million during the quarter, compared to analysts' expectations 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 company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is currently 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.