Ameriprise Financial Inc. Grows Position in Zurn Elkay Water Solutions Cor $ZWS

Ameriprise Financial Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 74.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,715,496 shares of the company’s stock after buying an additional 729,920 shares during the quarter. Ameriprise Financial Inc.’s holdings in Zurn Elkay Water Solutions Cor were worth $56,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HM Payson & Co. purchased a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $37,000. Federated Hermes Inc. lifted its stake in Zurn Elkay Water Solutions Cor by 3,687.2% during the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after purchasing an additional 1,733 shares in the last quarter. Archer Investment Corp acquired a new position in Zurn Elkay Water Solutions Cor during the first quarter worth $99,000. Central Pacific Bank Trust Division boosted its position in shares of Zurn Elkay Water Solutions Cor by 31.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the company’s stock worth $145,000 after buying an additional 1,040 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the fourth quarter valued at $221,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 9,857 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $45.06, for a total value of $444,156.42. Following the completion of the sale, the director owned 328,964 shares in the company, valued at $14,823,117.84. This represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the sale, the vice president directly owned 94,330 shares of the company’s stock, valued at $4,113,731.30. The trade was a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,930 shares of company stock valued at $6,501,529 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Up 1.1%

Shares of NYSE:ZWS opened at $46.56 on Thursday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $46.60. The firm’s 50 day moving average price is $40.42 and its 200 day moving average price is $36.34. The company has a quick ratio of 1.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 2.47 and a beta of 1.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The firm had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.64%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ZWS shares. Mizuho set a $36.00 target price on Zurn Elkay Water Solutions Cor in a research report on Friday, May 16th. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions Cor from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.00.

About Zurn Elkay Water Solutions Cor

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.