MQS Management LLC Acquires New Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

MQS Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,184 shares of the company’s stock, valued at approximately $475,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Principal Securities Inc. purchased a new position in Zurn Elkay Water Solutions during the fourth quarter worth approximately $34,000. Benjamin Edwards Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $42,000. Kapitalo Investimentos Ltda purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $76,000. Assetmark Inc. raised its stake in shares of Zurn Elkay Water Solutions by 32.9% in the 4th quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock valued at $85,000 after acquiring an additional 718 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock valued at $93,000 after acquiring an additional 1,517 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZWS shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.29.

Insiders Place Their Bets

In other news, Director Thomas Christopoul sold 10,495 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $32.11, for a total value of $336,994.45. Following the transaction, the director now directly owns 104,844 shares in the company, valued at approximately $3,366,540.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Ice Mountain Llc sold 46,380 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,484,160.00. Following the transaction, the insider now directly owns 24,168,932 shares in the company, valued at approximately $773,405,824. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Christopoul sold 10,495 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.11, for a total transaction of $336,994.45. Following the completion of the transaction, the director now owns 104,844 shares in the company, valued at $3,366,540.84. The disclosure for this sale can be found here. Insiders sold a total of 251,442 shares of company stock valued at $7,716,844 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 3.1 %

ZWS stock traded up $0.94 during mid-day trading on Thursday, hitting $31.56. 994,622 shares of the company were exchanged, compared to its average volume of 953,330. The company has a market capitalization of $5.45 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $34.58. The firm has a fifty day simple moving average of $30.61 and a 200 day simple moving average of $31.10.

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

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

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.