Future Fund LLC Buys New Holdings in Zurn Elkay Water Solutions Cor $ZWS

Future Fund LLC purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,892 shares of the company’s stock, valued at approximately $727,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth approximately $265,000. Royal Bank of Canada increased its position in Zurn Elkay Water Solutions Cor by 1.5% in the first quarter. Royal Bank of Canada now owns 597,698 shares of the company’s stock worth $19,712,000 after purchasing an additional 8,822 shares during the last quarter. Intech Investment Management LLC raised its stake in Zurn Elkay Water Solutions Cor by 36.4% during the first quarter. Intech Investment Management LLC now owns 74,842 shares of the company’s stock valued at $2,468,000 after purchasing an additional 19,959 shares in the last quarter. Voya Investment Management LLC lifted its position in Zurn Elkay Water Solutions Cor by 39.8% during the first quarter. Voya Investment Management LLC now owns 105,039 shares of the company’s stock valued at $3,464,000 after purchasing an additional 29,878 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Zurn Elkay Water Solutions Cor during the second quarter valued at $380,000. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock opened at $47.42 on Monday. Zurn Elkay Water Solutions Cor has a twelve month low of $27.74 and a twelve month high of $50.03. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 2.57 and a beta of 1.12. The business’s fifty day simple moving average is $46.65 and its two-hundred day simple moving average is $41.37. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $455.40 million for the quarter, compared to analysts’ expectations of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 39.29%.

Wall Street Analyst Weigh In

ZWS has been the topic of several recent research reports. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Oppenheimer set a $53.00 target price on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.83.

Insider Activity at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 17,844 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $47.55, for a total transaction of $848,482.20. Following the completion of the sale, the director owned 311,120 shares of the company’s stock, valued at approximately $14,793,756. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 31,957 shares of company stock worth $1,500,135 over the last 90 days. Company insiders own 2.60% of the company’s stock.

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.