Los Angeles Capital Management LLC Sells 530 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Los Angeles Capital Management LLC cut its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,137 shares of the company’s stock after selling 530 shares during the period. Los Angeles Capital Management LLC’s holdings in Zurn Elkay Water Solutions were worth $1,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZWS. Principal Financial Group Inc. boosted its stake in Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock worth $94,161,000 after purchasing an additional 868,748 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after buying an additional 465,701 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after acquiring an additional 346,412 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Zurn Elkay Water Solutions by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after acquiring an additional 265,857 shares in the last quarter. Finally, Wintrust Investments LLC raised its stake in shares of Zurn Elkay Water Solutions by 1,300.0% in the first quarter. Wintrust Investments LLC now owns 252,000 shares of the company’s stock worth $8,434,000 after acquiring an additional 234,000 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ZWS. Mizuho increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions currently has an average rating of “Hold” and a consensus price target of $38.17.

Zurn Elkay Water Solutions Trading Up 0.2 %

NYSE:ZWS opened at $39.41 on Thursday. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.99 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $40.64. The business’s 50-day moving average price is $35.64 and its two-hundred day moving average price is $32.67. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same quarter last year, the firm earned $0.29 EPS. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued a $0.09 dividend. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zurn Elkay Water Solutions news, VP Jeffrey J. Lavalle sold 3,132 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the sale, the vice president now directly owns 35,422 shares in the company, valued at approximately $1,386,771.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,688 shares of company stock worth $8,400,151 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

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.