LVW Advisors LLC Raises Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

LVW Advisors LLC increased its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 10.3% during the second quarter, Holdings Channel.com reports. The firm owned 20,633 shares of the company’s stock after acquiring an additional 1,923 shares during the quarter. LVW Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $607,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC purchased a new stake in Zurn Elkay Water Solutions during the fourth quarter valued at approximately $5,213,000. Dynamic Technology Lab Private Ltd purchased a new position in Zurn Elkay Water Solutions in the 4th quarter worth about $1,511,000. Strs Ohio increased its position in Zurn Elkay Water Solutions by 235.5% during 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 during the period. Los Angeles Capital Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter valued at about $1,004,000. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter valued at about $7,674,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS traded up $0.09 during midday trading on Tuesday, hitting $30.10. 39,926 shares of the stock were exchanged, compared to its average volume of 944,158. The company has a 50 day moving average price of $30.44 and a 200-day moving average price of $31.34. Zurn Elkay Water Solutions Co. has a twelve month low of $25.09 and a twelve month high of $34.58. The stock has a market cap of $5.14 billion, a P/E ratio of 42.28, a PEG ratio of 1.64 and a beta of 1.15. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

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

Zurn Elkay Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.06%. The ex-dividend date is Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction 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 owns 389,399 shares in the company, valued at approximately $12,854,060.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm’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 sale, the director now owns 389,399 shares in the company, valued at approximately $12,854,060.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Aimee Katz sold 100,000 shares of the business’s 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 transaction, the insider now owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 245,033 shares of company stock valued at $7,514,728. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and an average price target of $35.17.

Zurn Elkay Water Solutions 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.