Venturi Wealth Management LLC Trims Stake in Zurn Elkay Water Solutions Cor $ZWS

Venturi Wealth Management LLC reduced its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,934 shares of the company’s stock after selling 1,843 shares during the quarter. Venturi Wealth Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. HM Payson & Co. bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at $37,000. Federated Hermes Inc. boosted its position in Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock valued at $59,000 after acquiring an additional 1,733 shares in the last quarter. GAMMA Investing LLC boosted its position 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 valued at $83,000 after acquiring an additional 1,310 shares in the last quarter. Archer Investment Corp bought a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at $99,000. Finally, Public Employees Retirement System of Ohio boosted its position in Zurn Elkay Water Solutions Cor by 376.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,462 shares of the company’s stock valued at $163,000 after acquiring an additional 3,526 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 2,156 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total value of $102,496.24. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the sale, the vice president directly owned 94,330 shares of the company’s stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,930 shares of company stock valued at $7,452,507. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ZWS has been the topic of several recent research reports. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Oppenheimer lifted their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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 $45.48 on Friday. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $48.42. The stock has a 50 day moving average of $46.02 and a two-hundred day moving average of $38.95. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.62 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping 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 company had revenue of $444.50 million during the quarter, compared to analyst estimates of $424.55 million. During the same period in the previous year, the business earned $0.33 EPS. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 20th. Zurn Elkay Water Solutions Cor’s payout ratio is 35.64%.

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.