Rhumbline Advisers Has $15.07 Million Stake in Zurn Elkay Water Solutions Cor $ZWS

Rhumbline Advisers raised its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 4.3% in the second quarter, HoldingsChannel.com reports. The firm owned 412,112 shares of the company’s stock after purchasing an additional 16,920 shares during the quarter. Rhumbline Advisers’ holdings in Zurn Elkay Water Solutions Cor were worth $15,071,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZWS. Zimmer Partners LP acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at approximately $50,344,000. Impax Asset Management Group plc increased its stake in Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company’s stock worth $180,408,000 after acquiring an additional 916,850 shares during the period. Ameriprise Financial Inc. increased its stake in Zurn Elkay Water Solutions Cor by 74.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock worth $56,577,000 after acquiring an additional 729,920 shares during the period. Nuveen LLC acquired a new position in Zurn Elkay Water Solutions Cor in the 1st quarter valued at $21,273,000. Finally, Vanguard Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after acquiring an additional 371,635 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Insider Activity

In other news, Director Timothy J. Jahnke sold 17,844 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $47.55, for a total value of $848,482.20. Following the completion of the transaction, the director directly owned 311,120 shares in the company, valued at approximately $14,793,756. This represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 40,100 shares of company stock worth $1,911,084 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Cor Stock Down 0.9%

Shares of NYSE ZWS opened at $47.72 on Friday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 2.57 and a beta of 1.12. The company has a current ratio of 2.78, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $50.03. The stock has a 50-day moving average price of $46.78 and a two-hundred day moving average price of $42.59.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, November 20th. 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%. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZWS. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Zacks Research upgraded shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Oppenheimer set a $53.00 price target on shares of Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.83.

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.