TD Private Client Wealth LLC Has $1.99 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

TD Private Client Wealth LLC reduced its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,431 shares of the company’s stock after selling 2,628 shares during the period. TD Private Client Wealth LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $1,991,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor during the first quarter worth about $37,000. Federated Hermes Inc. lifted its position in shares of 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 buying an additional 1,733 shares during the period. GAMMA Investing LLC boosted its stake in 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 valued at $83,000 after buying an additional 1,310 shares in the last quarter. Archer Investment Corp acquired a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter valued at $99,000. Finally, Central Pacific Bank Trust Division grew its position in Zurn Elkay Water Solutions Cor by 31.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock valued at $145,000 after acquiring an additional 1,040 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS opened at $46.14 on Friday. The business has a fifty day moving average of $44.39 and a 200-day moving average of $37.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $48.42. The firm has a market cap of $7.73 billion, a PE ratio of 45.68, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $444.50 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. On average, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. 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 is 35.64%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZWS shares. Oppenheimer lifted their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, September 12th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.50.

Insider Buying and Selling

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the transaction, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 2,156 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total value of $102,496.24. Following the transaction, the director directly owned 308,964 shares in the company, valued at approximately $14,688,148.56. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,930 shares of company stock valued at $7,452,507. 2.60% of the stock is currently owned by company insiders.

About Zurn Elkay Water Solutions Cor

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.