OLD National Bancorp IN Grows Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

OLD National Bancorp IN raised its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 89.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,912 shares of the company’s stock after acquiring an additional 6,106 shares during the period. OLD National Bancorp IN’s holdings in Zurn Elkay Water Solutions were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZWS. HighPoint Advisor Group LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $5,213,000. Dynamic Technology Lab Private Ltd purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at approximately $1,511,000. Strs Ohio boosted its holdings in Zurn Elkay Water Solutions by 235.5% in the 4th quarter. Strs Ohio now owns 46,300 shares of the company’s stock valued at $1,361,000 after purchasing an additional 32,500 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Zurn Elkay Water Solutions during the 1st quarter worth approximately $1,004,000. Finally, Epoch Investment Partners Inc. purchased a new position in shares of Zurn Elkay Water Solutions during the 1st quarter worth approximately $7,674,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock traded up $0.02 during trading hours on Friday, hitting $30.34. The stock had a trading volume of 684,089 shares, compared to its average volume of 944,915. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.64 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. Zurn Elkay Water Solutions Co. has a 1-year low of $25.09 and a 1-year high of $34.58. The stock’s fifty day moving average is $30.45 and its two-hundred day moving average is $31.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. As a group, analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 20th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.17.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Aimee Katz sold 8,240 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.14, for a total transaction of $240,113.60. Following the sale, the insider now directly owns 23,565,924 shares in the company, valued at $686,711,025.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 245,033 shares of company stock valued at $7,514,728. 3.80% of the stock is owned by corporate insiders.

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.