Zurn Elkay Water Solutions Cor (NYSE:ZWS) Short Interest Up 1,249.8% in July

Key Points

• Zurn Elkay Water Solutions Cor experienced a significant increase in short interest of 1,249.8% in July, totaling 4,850,000 shares shorted by mid-month.
• The company reported $0.42 EPS for the latest quarter, exceeding analyst expectations, with a revenue of $444.50 million, marking a 7.9% year-over-year revenue growth.
• Zurn Elkay announced a quarterly dividend of $0.09 per share, payable on September 5th, representing a 0.8% yield.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 4,850,000 shares, agrowthof1,249.8% from the June 30th total of 359,300 shares. Currently,3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 829,700 shares, the short-interest ratio is presently 5.8 days. Based on an average daily trading volume, of 829,700 shares, the short-interest ratio is presently 5.8 days. Currently,3.3% of the shares of the company are short sold.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.73, for a total transaction of $874,600.00. Following the transaction, the director owned 180,000 shares in the company, valued at $7,871,400. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 2,706 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.11, for a total value of $100,419.66. Following the completion of the transaction, the chief financial officer owned 60,772 shares in the company, valued at $2,255,248.92. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,557 shares of company stock worth $7,115,359 in the last 90 days. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. bought a new position in Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. HM Payson & Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $37,000. Federated Hermes Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock worth $59,000 after buying an additional 1,733 shares during the last quarter. CWM LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company's stock worth $66,000 after buying an additional 454 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 137.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company's stock worth $83,000 after buying an additional 1,310 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded down $1.13 during trading on Monday, reaching $43.85. The company's stock had a trading volume of 1,710,421 shares, compared to its average volume of 1,299,674. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 2.41 and a beta of 1.03. 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 firm has a 50 day moving average of $37.18 and a 200-day moving average of $35.52. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $45.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million for 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 business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, August 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio is currently 35.64%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZWS shares. BNP Paribas cut shares of Zurn Elkay Water Solutions Cor from an "outperform" rating to a "neutral" rating and set a $29.00 price target for the company. in a report on Wednesday, April 9th. Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a report on Friday, May 16th. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Robert W. Baird decreased their price target on Zurn Elkay Water Solutions Cor from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.