Peregrine Capital Management LLC Grows Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS

Peregrine Capital Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 282,715 shares of the company’s stock after buying an additional 4,692 shares during the period. Peregrine Capital Management LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $10,339,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company’s stock valued at $523,094,000 after buying an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 0.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company’s stock valued at $448,714,000 after buying an additional 42,277 shares during the last quarter. Invesco Ltd. lifted its position in shares of Zurn Elkay Water Solutions Cor by 1.9% during the first quarter. Invesco Ltd. now owns 5,991,234 shares of the company’s stock valued at $197,591,000 after buying an additional 110,932 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Zurn Elkay Water Solutions Cor by 2.5% during the first quarter. Beck Mack & Oliver LLC now owns 3,572,869 shares of the company’s stock valued at $117,833,000 after buying an additional 87,303 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 74.1% during the first quarter. Ameriprise Financial Inc. now owns 1,715,496 shares of the company’s stock valued at $56,577,000 after acquiring an additional 729,920 shares in the last quarter. 83.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ZWS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Oppenheimer upped their price objective on shares of Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.50.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total transaction of $874,600.00. Following the sale, the director owned 180,000 shares of the company’s stock, valued at $7,871,400. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhanshu Chhabra sold 108,930 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total transaction of $4,750,437.30. Following the sale, the vice president directly owned 94,330 shares in the company, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,930 shares of company stock valued at $7,452,507 over the last three months. 2.60% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS opened at $46.66 on Tuesday. Zurn Elkay Water Solutions Cor has a 12-month low of $27.74 and a 12-month high of $48.42. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.82 billion, a PE ratio of 46.20, a P/E/G ratio of 2.49 and a beta of 1.09. The firm has a 50 day moving average of $46.37 and a two-hundred day moving average of $40.21.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Zurn Elkay Water Solutions Cor had a net margin of 10.78% and a return on equity of 15.23%. The company had revenue of $444.50 million during the quarter, compared to analyst estimates of $424.55 million. During the same period last year, the firm posted $0.33 EPS. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current year.

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.