Zurn Elkay Water Solutions Cor $ZWS Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,087 shares of the company’s stock after selling 2,778 shares during the quarter. King Luther Capital Management Corp’s holdings in Zurn Elkay Water Solutions Cor were worth $6,184,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $26,000. First Horizon Advisors Inc. lifted its holdings in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after purchasing an additional 1,733 shares during the period. CWM LLC increased its stake in shares of Zurn Elkay Water Solutions Cor by 33.8% during the second quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after purchasing an additional 454 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 137.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock worth $83,000 after purchasing an additional 1,310 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ZWS. Mizuho set a $49.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.83.

Zurn Elkay Water Solutions Cor Trading Down 0.4%

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.42 on Monday. The stock has a 50 day moving average of $46.65 and a 200 day moving average of $41.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 2.57 and a beta of 1.12. 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 results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. As a group, research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.11 per share. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 39.29%.

Insider Activity

In other news, Director Timothy J. Jahnke sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $105,000.00. Following the sale, the director directly owned 306,864 shares of the company’s stock, valued at approximately $15,343,200. The trade was a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 31,957 shares of company stock valued at $1,500,135. 2.60% of the stock is currently owned by insiders.

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.