Venturi Wealth Management LLC Acquires 3,498 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Venturi Wealth Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 63.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,011 shares of the company’s stock after acquiring an additional 3,498 shares during the quarter. Venturi Wealth Management LLC’s holdings in Zurn Elkay Water Solutions were worth $324,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 373 shares during the last quarter. Quarry LP lifted its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd 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. International Assets Investment Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter worth about $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the 3rd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings 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 acquiring an additional 1,267 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Trading Down 1.2 %

Shares of Zurn Elkay Water Solutions stock opened at $39.33 on Wednesday. The firm’s 50-day moving average price is $35.48 and its two-hundred day moving average price is $32.62. Zurn Elkay Water Solutions Co. has a 12-month low of $27.55 and a 12-month high of $40.64. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 1.99 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is 45.57%.

Insider Activity

In related news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction dated 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 owns 80,151 shares in the company, valued at approximately $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. In the last three months, insiders have sold 225,688 shares of company stock worth $8,400,151. Corporate insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZWS. Mizuho boosted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus price target of $38.17.

Zurn Elkay Water Solutions Company 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.