Huntington National Bank Has $20.04 Million Holdings in Zurn Elkay Water Solutions Cor $ZWS

Huntington National Bank lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 548,050 shares of the company’s stock after selling 47,190 shares during the quarter. Huntington National Bank’s holdings in Zurn Elkay Water Solutions Cor were worth $20,042,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ZWS. Zimmer Partners LP acquired a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth $50,344,000. Ameriprise Financial Inc. raised its stake in Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock worth $56,577,000 after buying an additional 729,920 shares during the period. Nuveen LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth $21,273,000. Vanguard Group Inc. raised its stake in Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock worth $523,094,000 after buying an additional 371,635 shares during the period. Finally, Woodline Partners LP acquired a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter worth $4,632,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ZWS shares. Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Stifel Nicolaus lifted their price target 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. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.83.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE ZWS opened at $47.06 on Tuesday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 2.57 and a beta of 1.09. The business has a 50-day moving average of $46.53 and a 200-day moving average of $40.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03.

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

Zurn Elkay Water Solutions Cor Increases Dividend

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

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 17,844 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $47.55, for a total value of $848,482.20. Following the completion of the transaction, the director owned 311,120 shares in the company, valued at $14,793,756. This trade represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 31,957 shares of company stock valued at $1,500,135. 2.60% of the stock is owned by company insiders.

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.