LVW Advisors LLC Grows Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

LVW Advisors LLC lifted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,023 shares of the company’s stock after buying an additional 2,390 shares during the period. LVW Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake in shares of 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 buying an additional 373 shares during the last quarter. MJP Associates Inc. ADV lifted its position in Zurn Elkay Water Solutions by 5.5% during the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock valued at $300,000 after purchasing an additional 534 shares in the last quarter. Quarry LP lifted its position in Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after purchasing an additional 536 shares in the last quarter. Arizona State Retirement System lifted its position in Zurn Elkay Water Solutions by 1.4% during the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock valued at $1,203,000 after purchasing an additional 561 shares in the last quarter. Finally, Everpar Advisors LLC lifted its position in Zurn Elkay Water Solutions by 4.5% during the second quarter. Everpar Advisors LLC now owns 14,731 shares of the company’s stock valued at $433,000 after purchasing an additional 631 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $36.52 on Friday. The stock’s 50-day simple moving average is $32.93 and its 200-day simple moving average is $31.88. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $36.86. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 1.95 and a beta of 1.14. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $409.14 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 41.03%.

Insider Transactions at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total value of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total value of $1,720,300.05. Following the sale, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ZWS. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.40.

Zurn Elkay Water Solutions 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.