Los Angeles Capital Management LLC Trims Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Los Angeles Capital Management LLC decreased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,570 shares of the company’s stock after selling 1,090 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,252,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $26,000. First Horizon Advisors Inc. lifted its position in Zurn Elkay Water Solutions Cor by 249.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the period. Federated Hermes Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after acquiring an additional 1,733 shares in the last quarter. CWM LLC grew its holdings in Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after purchasing an additional 454 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Zurn Elkay Water Solutions Cor by 137.6% in the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock worth $83,000 after purchasing an additional 1,310 shares during the period. Institutional investors own 83.33% of the company’s stock.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 7,461 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the transaction, the director directly owned 162,000 shares of the company’s stock, valued at $7,695,000. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 40,100 shares of company stock valued at $1,911,084 in the last three months. Insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 0.9%

Zurn Elkay Water Solutions Cor stock opened at $48.05 on Wednesday. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 2.57 and a beta of 1.12. The stock has a fifty day simple moving average of $46.76 and a two-hundred day simple moving average of $41.57. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $50.03. The company has a current ratio of 2.78, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The firm had revenue of $455.40 million for the quarter, compared to the consensus estimate of $442.62 million. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is 39.29%.

Analysts Set New Price Targets

ZWS has been the topic of a number of analyst reports. Zacks Research cut Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. 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. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Mizuho set a $49.00 price target on Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Oppenheimer set a $53.00 price target on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of “Hold” and a consensus price target of $42.83.

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.