Louisiana State Employees Retirement System Decreases Stock Position in Zurn Elkay Water Solutions Cor $ZWS

Louisiana State Employees Retirement System reduced its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 66,000 shares of the company’s stock after selling 1,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Zurn Elkay Water Solutions Cor were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ZWS. GAMMA Investing LLC increased its position in Zurn Elkay Water Solutions Cor by 3,250.8% in the first quarter. GAMMA Investing LLC now owns 31,397 shares of the company’s stock worth $952,000 after buying an additional 30,460 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 45.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company’s stock worth $17,606,000 after acquiring an additional 166,080 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter worth $265,000. Sequoia Financial Advisors LLC bought a new position in shares of Zurn Elkay Water Solutions Cor in the first quarter worth $2,642,000. Finally, Perpetual Ltd boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 23.4% in the first quarter. Perpetual Ltd now owns 264,396 shares of the company’s stock worth $8,720,000 after acquiring an additional 50,207 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Timothy J. Jahnke sold 20,000 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.73, for a total value of $874,600.00. Following the transaction, the director owned 180,000 shares in the company, valued at approximately $7,871,400. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Thursday, July 31st. The stock was 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 approximately $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,930 shares of company stock worth $7,452,507. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ZWS shares. Oppenheimer raised their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price objective on 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. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Hold” and a consensus target price of $40.50.

Zurn Elkay Water Solutions Cor Trading Down 2.7%

Shares of ZWS stock opened at $45.48 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $46.02 and a two-hundred day moving average price of $38.95. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $48.42. The firm has a market cap of $7.62 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm 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 return on equity of 15.23% and a net margin of 10.78%.The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.64%.

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.