MQS Management LLC Makes New $275,000 Investment in Zurn Elkay Water Solutions Cor $ZWS

MQS Management LLC bought a new position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the second quarter, HoldingsChannel.com reports. The firm bought 7,518 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth $26,000. HM Payson & Co. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the first quarter worth $37,000. Federated Hermes Inc. increased its position in shares of 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. CWM LLC increased its position 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 increased its position in shares of Zurn Elkay Water Solutions Cor by 137.6% during the second quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock worth $83,000 after purchasing an additional 1,310 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

ZWS has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, October 8th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Oppenheimer upped their target price on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Price Performance

NYSE ZWS opened at $46.66 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The stock’s fifty day moving average price is $46.37 and its 200 day moving average price is $40.21. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $48.42. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 2.49 and a beta of 1.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (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 the consensus estimate of $424.55 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Insider Activity

In other Zurn Elkay Water Solutions Cor news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the sale, the vice president directly owned 94,330 shares of the company’s stock, valued at approximately $4,113,731.30. This trade represents a 53.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy J. Jahnke sold 2,156 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total value of $102,496.24. Following the sale, the director directly owned 308,964 shares in the company, valued at $14,688,148.56. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,930 shares of company stock worth $7,452,507 over the last ninety days. 2.60% of the stock is owned by insiders.

Zurn Elkay Water Solutions Cor 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.