Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,677 shares of the company’s stock after selling 928 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Zurn Elkay Water Solutions were worth $2,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tortoise Investment Management LLC increased its stake in Zurn Elkay Water Solutions by 76.7% during 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 in the last quarter. Quarry LP increased its position in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Zurn Elkay Water Solutions in the 2nd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. raised its stake in Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after purchasing an additional 1,267 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in Zurn Elkay Water Solutions by 649.1% in the 1st quarter. EntryPoint Capital LLC now owns 1,603 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $37.51 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $33.35 and a 200 day moving average price of $31.96. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $38.11. The stock has a market cap of $6.48 billion, a P/E ratio of 52.83, a PEG ratio of 1.93 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The business had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares of the company’s stock, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Timothy J. Jahnke sold 4,086 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the transaction, the director now owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 15,600 shares of Zurn Elkay Water Solutions stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the transaction, the director now directly owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZWS shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of 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. Oppenheimer reiterated an “outperform” rating and issued a $37.00 price objective on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Finally, Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.80.

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.