Thematics Asset Management Sells 40,000 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thematics Asset Management cut its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,127 shares of the company’s stock after selling 40,000 shares during the quarter. Thematics Asset Management owned about 0.16% of Zurn Elkay Water Solutions worth $9,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after acquiring an additional 373 shares during the last quarter. Quarry LP lifted 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 worth $25,000 after purchasing an additional 536 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions during the second quarter valued at approximately $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the third quarter worth approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 732.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after acquiring an additional 1,267 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now owns 385,017 shares in the company, valued at approximately $12,717,111.51. This represents a 3.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,688 shares of company stock valued at $8,400,151. Corporate insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 1.8 %

Shares of NYSE ZWS traded down $0.73 during midday trading on Tuesday, reaching $39.52. 71,198 shares of the company’s stock traded hands, compared to its average volume of 1,106,390. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. The stock’s 50 day simple moving average is $36.98 and its 200-day simple moving average is $33.14. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 50.95, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping 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 the consensus estimate of $406.15 million. During the same period in the previous year, the company posted $0.29 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.91%. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZWS. Robert W. Baird upped their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of 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. Oppenheimer upped 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 research note on Tuesday, October 22nd. 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 research note on Thursday, October 31st. Finally, Stifel Nicolaus increased 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.17.

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.