Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,316 shares of the company’s stock after purchasing an additional 1,458 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Zurn Elkay Water Solutions worth $4,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ZWS. Teacher Retirement System of Texas increased its holdings in shares of Zurn Elkay Water Solutions by 87.1% in the third quarter. Teacher Retirement System of Texas now owns 21,137 shares of the company’s stock valued at $592,000 after purchasing an additional 9,839 shares during the period. California Public Employees Retirement System grew its holdings in Zurn Elkay Water Solutions by 20.5% during the third quarter. California Public Employees Retirement System now owns 213,827 shares of the company’s stock worth $5,991,000 after acquiring an additional 36,307 shares during the period. Victory Capital Management Inc. grew its holdings in Zurn Elkay Water Solutions by 8.9% during the third quarter. Victory Capital Management Inc. now owns 22,024 shares of the company’s stock worth $617,000 after acquiring an additional 1,795 shares during the period. AdvisorShares Investments LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth $393,000. Finally, Jump Financial LLC acquired a new position in Zurn Elkay Water Solutions during the third quarter worth $610,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of research analyst reports. BNP Paribas initiated coverage on Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.50.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.22 during mid-day trading on Thursday, hitting $32.00. The stock had a trading volume of 34,064 shares, compared to its average volume of 921,845. The company has a market cap of $5.53 billion, a PE ratio of 45.34, a PEG ratio of 1.70 and a beta of 1.21. The company’s fifty day simple moving average is $32.18 and its two-hundred day simple moving average is $30.77. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a fifty-two week low of $21.78 and a fifty-two week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The business had revenue of $374.00 million during the quarter, compared to analyst estimates of $369.43 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, May 17th. Zurn Elkay Water Solutions’s payout ratio is currently 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the sale, the insider now owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $32.18, for a total value of $1,614,534.96. Following the sale, the insider now owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Christopoul sold 10,495 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $32.11, for a total value of $336,994.45. Following the completion of the sale, the director now directly owns 104,844 shares in the company, valued at approximately $3,366,540.84. The disclosure for this sale can be found here. Insiders have sold 508,758 shares of company stock valued at $16,296,948 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions 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.