Whittier Trust Co. Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS

Whittier Trust Co. purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 722 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 2.4% during 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock valued at $448,714,000 after buying an additional 42,277 shares in the last quarter. Invesco Ltd. raised its position in shares of Zurn Elkay Water Solutions Cor by 1.9% during the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock valued at $197,591,000 after buying an additional 110,932 shares in the last quarter. Beck Mack & Oliver LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 2.5% during the 1st quarter. Beck Mack & Oliver LLC now owns 3,572,869 shares of the company’s stock valued at $117,833,000 after buying an additional 87,303 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Zurn Elkay Water Solutions Cor by 74.1% during 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 in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

Zurn Elkay Water Solutions Cor stock opened at $46.41 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The firm has a market capitalization of $7.78 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The company’s 50-day moving average is $46.34 and its 200 day moving average is $39.95. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $48.42.

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

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.73, for a total value of $874,600.00. Following the transaction, the director directly owned 180,000 shares in the company, valued at $7,871,400. This represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 168,930 shares of company stock worth $7,452,507 over the last 90 days. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ZWS has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Stifel Nicolaus increased their price objective 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. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Company 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.