King Luther Capital Management Corp Boosts Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

King Luther Capital Management Corp grew its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,959 shares of the company’s stock after purchasing an additional 601 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Zurn Elkay Water Solutions worth $6,072,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC grew its position in Zurn Elkay Water Solutions by 1.3% during the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after buying an additional 269 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of 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 last quarter. MJP Associates Inc. ADV increased its position in shares of Zurn Elkay Water Solutions by 5.5% in the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after purchasing an additional 534 shares during the last quarter. Quarry LP raised its stake in Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after purchasing an additional 536 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Zurn Elkay Water Solutions by 1.4% during the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 1.4 %

Shares of NYSE:ZWS opened at $39.35 on Friday. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.64. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $36.71 and its 200-day moving average price is $33.02. The stock has a market capitalization of $6.68 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period last year, the company earned $0.29 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This is a positive change 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 0.91%. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 40.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased 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. Mizuho lifted their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.17.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 120,000 shares of the business’s 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 owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David J. Pauli sold 4,070 shares of the company’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 value of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 in the last quarter. Company 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.