Perpetual Ltd Acquires 22,493 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Perpetual Ltd increased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,669 shares of the company’s stock after purchasing an additional 22,493 shares during the quarter. Perpetual Ltd owned 0.11% of Zurn Elkay Water Solutions worth $7,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after buying an additional 373 shares in the last quarter. Quarry LP increased its holdings in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after buying an additional 1,267 shares during the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of Zurn Elkay Water Solutions by 649.1% during the 1st quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ZWS shares. Oppenheimer reissued an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Three investment 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.com, Zurn Elkay Water Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock opened at $35.95 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $32.72 and its two-hundred day moving average is $31.82. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $36.86. The company has a market capitalization of $6.14 billion, a PE ratio of 46.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14.

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

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Zurn Elkay Water Solutions’s payout ratio is 41.03%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares of the company’s stock, valued at $12,717,111.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,572 shares of company stock valued at $2,721,672 over the last quarter. 3.80% of the stock is owned by corporate insiders.

About Zurn Elkay Water Solutions

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.