Zurn Elkay Water Solutions Co. (NYSE:ZWS) Short Interest Down 12.7% in June

Zurn Elkay Water Solutions Co. (NYSE:ZWS) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 4,130,000 shares, a drop of 12.7% from the May 31st total of 4,730,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 833,000 shares, the days-to-cover ratio is presently 5.0 days.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now directly owns 24,998,760 shares of the company’s stock, valued at approximately $804,460,096.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the sale, the insider now owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the sale, the insider now directly owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 741,465 shares of company stock valued at $23,436,684. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in Zurn Elkay Water Solutions by 2,110.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares in the last quarter. Norges Bank acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $39,532,000. Raymond James & Associates grew its holdings in Zurn Elkay Water Solutions by 1,622.8% during the 4th quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after purchasing an additional 1,171,985 shares in the last quarter. Jennison Associates LLC grew its holdings in Zurn Elkay Water Solutions by 68.6% during the 1st quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after purchasing an additional 518,733 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Zurn Elkay Water Solutions by 3,236.0% during the 4th quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after acquiring an additional 491,093 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 1.5 %

Shares of ZWS traded up $0.42 on Tuesday, hitting $29.18. 921,718 shares of the stock traded hands, compared to its average volume of 960,291. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.04 billion, a P/E ratio of 40.70, a P/E/G ratio of 1.53 and a beta of 1.16. The stock’s 50 day moving average is $31.26 and its two-hundred day moving average is $31.00. Zurn Elkay Water Solutions has a 1 year low of $25.09 and a 1 year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Zurn Elkay Water Solutions will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 20th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Analysts Set New Price Targets

ZWS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, BNP Paribas assumed coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and an average target price of $33.50.

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.