King Luther Capital Management Corp Sells 2,778 Shares of Zurn Elkay Water Solutions Cor $ZWS

King Luther Capital Management Corp lessened its holdings in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,087 shares of the company’s stock after selling 2,778 shares during the quarter. King Luther Capital Management Corp owned approximately 0.10% of Zurn Elkay Water Solutions Cor worth $6,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Zurn Elkay Water Solutions Cor in the 1st quarter worth $265,000. Royal Bank of Canada lifted its holdings in Zurn Elkay Water Solutions Cor by 1.5% in the 1st 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 in the last quarter. Intech Investment Management LLC boosted its stake in Zurn Elkay Water Solutions Cor by 36.4% in the 1st quarter. Intech Investment Management LLC now owns 74,842 shares of the company’s stock worth $2,468,000 after purchasing an additional 19,959 shares during the period. Voya Investment Management LLC raised its position in shares of 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 buying an additional 29,878 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter worth $380,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Trading Down 0.4%

NYSE ZWS opened at $47.42 on Monday. The company’s 50-day simple moving average is $46.65 and its two-hundred day simple moving average is $41.37. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 42.34, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78.

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

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be paid a dividend of $0.11 per share. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is presently 39.29%.

Analyst Ratings Changes

ZWS has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Mizuho set a $49.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Oppenheimer set a $53.00 target price on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor has an average rating of “Hold” and an average target price of $42.83.

Insiders Place Their Bets

In other news, Director Timothy J. Jahnke sold 2,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 306,864 shares of the company’s stock, valued at approximately $15,343,200. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 31,957 shares of company stock valued at $1,500,135 in the last three months. 2.60% of the stock is owned by company insiders.

About Zurn Elkay Water Solutions Cor

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.