King Luther Capital Management Corp Buys 601 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

King Luther Capital Management Corp increased its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 168,959 shares of the company’s stock after acquiring an additional 601 shares during the quarter. King Luther Capital Management Corp’s holdings in Zurn Elkay Water Solutions were worth $6,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its stake in shares of Zurn Elkay Water Solutions by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock valued at $750,000 after purchasing an additional 269 shares during the period. Tortoise Investment Management LLC grew its position in Zurn Elkay Water Solutions by 76.7% during the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after buying an additional 373 shares during the period. MJP Associates Inc. ADV grew its position in Zurn Elkay Water Solutions by 5.5% during the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after buying an additional 534 shares during the period. Quarry LP raised its position 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 during the period. Finally, Arizona State Retirement System boosted its stake in shares of Zurn Elkay Water Solutions by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after acquiring an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In related news, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares in the company, valued at approximately $1,862,443.80. The trade was a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The trade was a 39.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,688 shares of company stock worth $8,400,151 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ZWS has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Mizuho lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.17.

Zurn Elkay Water Solutions Stock Performance

NYSE:ZWS opened at $39.35 on Friday. The stock has a 50-day moving average price of $36.71 and a 200 day moving average price of $33.02. The stock has a market capitalization of $6.68 billion, a P/E ratio of 49.81, a P/E/G ratio of 1.98 and a beta of 1.14. 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.

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

Zurn Elkay Water Solutions Increases Dividend

The business 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 $0.09 dividend. This is an increase 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 payout ratio is currently 40.51%.

Zurn Elkay Water Solutions 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.