Prudential Financial Inc. Raises Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Prudential Financial Inc. boosted its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,437 shares of the company’s stock after buying an additional 1,865 shares during the quarter. Prudential Financial Inc.’s holdings in Zurn Elkay Water Solutions Cor were worth $5,754,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZWS. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $26,000. First Horizon Advisors Inc. boosted its position in shares of 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 worth $26,000 after buying an additional 502 shares during the period. Federated Hermes Inc. grew its stake 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 buying an additional 1,733 shares in the last quarter. CWM LLC raised its holdings in shares of Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock valued at $66,000 after buying an additional 454 shares during the period. Finally, GAMMA Investing LLC lifted its stake in 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 acquiring an additional 1,310 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Down 0.9%

Shares of NYSE:ZWS opened at $47.72 on Friday. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The firm’s 50 day moving average price is $46.78 and its 200 day moving average price is $42.59. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 42.60, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The company had revenue of $455.40 million for the quarter, compared to the consensus estimate of $442.62 million. During the same period in the prior year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 11.1% 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.9%. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 39.29%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $47.50, for a total transaction of $354,397.50. Following the completion of the sale, the director directly owned 162,000 shares of the company’s stock, valued at $7,695,000. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 40,100 shares of company stock valued at $1,911,084 in the last 90 days. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ZWS shares. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Stifel Nicolaus boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.