Exchange Traded Concepts LLC Decreases Stake in Zurn Elkay Water Solutions Cor $ZWS

Exchange Traded Concepts LLC reduced its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,624 shares of the company’s stock after selling 608 shares during the period. Exchange Traded Concepts LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZWS. Zimmer Partners LP purchased a new position in Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $50,344,000. Ameriprise Financial Inc. boosted its position in Zurn Elkay Water Solutions Cor by 74.1% in the 1st quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock valued at $56,577,000 after buying an additional 729,920 shares during the last quarter. Nuveen LLC purchased a new position in Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $21,273,000. Vanguard Group Inc. boosted its position in Zurn Elkay Water Solutions Cor by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after buying an additional 371,635 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Zurn Elkay Water Solutions Cor by 45.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 533,849 shares of the company’s stock valued at $17,606,000 after buying an additional 166,080 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stifel Nicolaus increased 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 report on Friday, September 12th. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Hold” and a consensus target price of $40.50.

Insider Activity

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the sale, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $102,496.24. Following the sale, the director owned 308,964 shares in the company, valued at approximately $14,688,148.56. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,930 shares of company stock worth $7,452,507. 2.60% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $46.90 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $48.42. The company’s 50-day simple moving average is $44.02 and its 200-day simple moving average is $37.80. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 2.51 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $444.50 million for the quarter, compared to analyst estimates of $424.55 million. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Announces Dividend

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

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.