Exchange Traded Concepts LLC Sells 26,406 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Exchange Traded Concepts LLC reduced its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 91.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,414 shares of the company's stock after selling 26,406 shares during the period. Exchange Traded Concepts LLC's holdings in Zurn Elkay Water Solutions were worth $87,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in 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 buying an additional 536 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Zurn Elkay Water Solutions by 76.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock valued at $25,000 after purchasing an additional 373 shares during the last quarter. International Assets Investment Management LLC bought a new position in Zurn Elkay Water Solutions during the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. increased its position in Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after buying an additional 1,267 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in Zurn Elkay Water Solutions by 649.1% in the first quarter. EntryPoint Capital LLC now owns 1,603 shares of the company's stock valued at $54,000 after buying an additional 1,389 shares during the period. 83.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Finally, Oppenheimer raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions has an average rating of "Moderate Buy" and a consensus target price of $37.40.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $36.51 on Wednesday. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $38.11. The firm has a 50-day moving average price of $33.89 and a two-hundred day moving average price of $32.08. The company has a market capitalization of $6.31 billion, a P/E ratio of 51.42, a P/E/G ratio of 2.01 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $412.00 million during the quarter, compared to analysts' expectations of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. Zurn Elkay Water Solutions's payout ratio is 45.07%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 345,017 shares in the company, valued at approximately $12,969,189.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now owns 345,017 shares of the company's stock, valued at approximately $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,572 shares of company stock valued at $3,473,472 in the last ninety days. 3.80% of the stock is currently owned by company insiders.

About Zurn Elkay Water Solutions

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.