Wrapmanager Inc. Sells 3,087 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Wrapmanager Inc. decreased its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 33.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,151 shares of the company’s stock after selling 3,087 shares during the quarter. Wrapmanager Inc.’s holdings in Zurn Elkay Water Solutions were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its holdings in Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after purchasing an additional 373 shares during the period. Quarry LP boosted its holdings in Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after acquiring an additional 536 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Zurn Elkay Water Solutions in the second quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after acquiring an additional 1,267 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Activity

In related news, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction 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 directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,688 shares of company stock worth $8,400,151 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.4 %

NYSE:ZWS opened at $39.01 on Wednesday. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The business has a fifty day moving average price of $36.43 and a 200-day moving average price of $32.94. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Wall Street Analyst Weigh In

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

Zurn Elkay Water Solutions Company 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.