Zurn Elkay Water Solutions Cor $ZWS Stock Holdings Boosted by Perpetual Ltd

Key Points

• Perpetual Ltd increased its holdings in Zurn Elkay Water Solutions Cor by **28%**, owning approximately **0.20%** of the company, worth about **$12.4 million**.
• Price targets for Zurn Elkay Water Solutions Cor have been raised by analysts, with Oppenheimer setting a new target of **$52** and Stifel Nicolaus at **$53**.
• The company posted earnings of **$0.42 per share**, exceeding analysts' expectations and showing a **7.9% year-over-year** revenue increase of **$444.5 million**.

Perpetual Ltd raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 28.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 338,479 shares of the company's stock after purchasing an additional 74,083 shares during the quarter. Perpetual Ltd owned about 0.20% of Zurn Elkay Water Solutions Cor worth $12,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new position in Zurn Elkay Water Solutions Cor in the first quarter worth approximately $37,000. Federated Hermes Inc. grew its position in Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after purchasing an additional 1,733 shares in the last quarter. Archer Investment Corp purchased a new position in Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $99,000. Central Pacific Bank Trust Division grew its position in Zurn Elkay Water Solutions Cor by 31.0% during the 1st 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 in the last quarter. Finally, Trexquant Investment LP purchased a new position in Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $216,000. 83.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZWS shares. Oppenheimer boosted their price target on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.50.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were 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 owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the transaction, the director directly owned 180,000 shares of the company's stock, valued at $7,871,400. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,930 shares of company stock valued at $7,452,507 in the last ninety days. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Down 2.1%

Zurn Elkay Water Solutions Cor stock opened at $46.92 on Friday. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 46.46, a P/E/G ratio of 2.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $48.42. The firm has a fifty day moving average price of $43.62 and a two-hundred day moving average price of $37.61.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to analyst estimates 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 revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

Zurn Elkay Water Solutions Cor 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.

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