Qsemble Capital Management LP Reduces Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Qsemble Capital Management LP decreased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 57.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,447 shares of the company’s stock after selling 8,586 shares during the quarter. Qsemble Capital Management LP’s holdings in Zurn Elkay Water Solutions were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Quarry LP raised its holdings in Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares during the period. Tortoise Investment Management LLC raised its holdings in 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 purchasing an additional 373 shares during the period. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter worth about $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock worth $42,000 after purchasing an additional 1,267 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 0.1 %

Shares of Zurn Elkay Water Solutions stock opened at $39.68 on Thursday. 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 Co. has a 1 year low of $27.55 and a 1 year high of $40.64. The company has a market capitalization of $6.73 billion, a P/E ratio of 50.23, a P/E/G ratio of 2.04 and a beta of 1.14. The business has a 50 day moving average price of $37.21 and a 200 day moving average price of $33.24.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. Zurn Elkay Water Solutions’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid 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 annualized dividend and a dividend yield of 0.91%. Zurn Elkay Water Solutions’s payout ratio is currently 45.57%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. 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 report on Thursday, August 1st. Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised their price target on 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and an average price target of $38.17.

Insider Activity

In other news, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. The trade was a 8.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David J. Pauli sold 4,070 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 3.00% 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.