Granite Investment Partners LLC Sells 17,721 Shares of Zurn Elkay Water Solutions Cor $ZWS

Granite Investment Partners LLC cut its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 22.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,816 shares of the company’s stock after selling 17,721 shares during the period. Granite Investment Partners LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Whittier Trust Co. bought a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. boosted its position in Zurn Elkay Water Solutions Cor by 3,687.2% during the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after acquiring an additional 1,733 shares during the last quarter. CWM LLC boosted its position in Zurn Elkay Water Solutions Cor by 33.8% during the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after acquiring an additional 454 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.83.

Zurn Elkay Water Solutions Cor Stock Up 0.2%

Shares of ZWS stock opened at $47.86 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.78. The firm’s 50-day moving average is $46.81 and its 200-day moving average is $42.78. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 2.57 and a beta of 1.12. Zurn Elkay Water Solutions Cor has a 52-week low of $27.74 and a 52-week high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $455.40 million during the quarter, compared to analysts’ expectations of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. Sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be issued 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 of this dividend is Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is presently 39.29%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 7,461 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the transaction, the director directly owned 162,000 shares in the company, valued at $7,695,000. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 40,100 shares of company stock valued at $1,911,084. 2.60% of the stock is currently owned by corporate insiders.

About Zurn Elkay Water Solutions Cor

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.