Perpetual Ltd Buys 61,277 Shares of Zurn Elkay Water Solutions Cor $ZWS

Perpetual Ltd raised its stake in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,944 shares of the company’s stock after buying an additional 61,277 shares during the period. Perpetual Ltd’s holdings in Zurn Elkay Water Solutions Cor were worth $15,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $1,241,345,000. Bank of America Corp DE bought a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $278,160,000. Jupiter Topco LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $172,287,000. Dimensional Fund Advisors LP increased its stake in shares of Zurn Elkay Water Solutions Cor by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,563,031 shares of the company’s stock valued at $114,913,000 after acquiring an additional 8,752 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $55,207,000. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler acquired 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. The trade was a 5.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZWS shares. Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Zacks Research raised Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Oppenheimer raised their target price on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Finally, Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.44.

Zurn Elkay Water Solutions Cor Stock Up 0.7%

ZWS stock opened at $46.88 on Tuesday. The firm has a market cap of $7.78 billion, a PE ratio of 28.94, a P/E/G ratio of 1.70 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The firm has a 50 day simple moving average of $48.11 and a 200 day simple moving average of $48.36.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were 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%. The ex-dividend date was Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is 27.16%.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.