Zurn Elkay Water Solutions Cor $ZWS Stock Bought by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Zurn Elkay Water Solutions stake by 20.8% in the third quarter, bringing its holdings to 706,955 shares valued at approximately $32.9 million. Institutional investors collectively own 83.33% of the company.
• Zurn Elkay reported quarterly EPS of $0.50, exceeding the $0.47 consensus estimate, while revenue rose 10.5% year over year to $491 million. Analysts forecast full-year EPS of $1.83.
• ZWS traded at $46.92, below its $57 average analyst price target; the stock has a consensus “Moderate Buy” rating. The company also pays a quarterly dividend of $0.11 per share, yielding about 0.9% annually.

Fort Washington Investment Advisors Inc. OH boosted its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 706,955 shares of the company's stock after purchasing an additional 121,905 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.43% of Zurn Elkay Water Solutions Cor worth $32,852,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ZWS. Kilter Group LLC purchased a new position in Zurn Elkay Water Solutions Cor during the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $27,000. Assetmark Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after buying an additional 292 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $49,000. Finally, Vega Investment Solutions purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $51,000. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Stock Down 0.4%

NYSE:ZWS opened at $46.92 on Friday. The firm has a market cap of $7.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The firm has a 50-day simple moving average of $47.78 and a two-hundred day simple moving average of $48.40.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

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

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler acquired 2,016 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the acquisition, the director directly owned 37,487 shares in the company, 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 filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ZWS has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a "sector perform" rating for the company in a research note on Wednesday. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a report on Friday, July 24th. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

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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