Jennison Associates LLC Has $43.14 Million Position in Zurn Elkay Water Solutions Cor $ZWS

Jennison Associates LLC reduced its holdings in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,179,732 shares of the company’s stock after selling 25,565 shares during the period. Jennison Associates LLC’s holdings in Zurn Elkay Water Solutions Cor were worth $43,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Zurn Elkay Water Solutions Cor in the 1st quarter valued at about $265,000. Royal Bank of Canada grew its position in shares of Zurn Elkay Water Solutions Cor by 1.5% in the 1st quarter. Royal Bank of Canada now owns 597,698 shares of the company’s stock valued at $19,712,000 after acquiring an additional 8,822 shares during the period. Intech Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 36.4% in the 1st quarter. Intech Investment Management LLC now owns 74,842 shares of the company’s stock valued at $2,468,000 after acquiring an additional 19,959 shares during the period. Voya Investment Management LLC grew its position in shares of Zurn Elkay Water Solutions Cor by 39.8% in the 1st quarter. Voya Investment Management LLC now owns 105,039 shares of the company’s stock valued at $3,464,000 after acquiring an additional 29,878 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $380,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS stock opened at $46.65 on Friday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.57 and a beta of 1.09. 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 company has a 50-day simple moving average of $46.49 and a 200 day simple moving average of $40.51. 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 announced its earnings results on Tuesday, October 28th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $455.40 million during the quarter, compared to the consensus estimate of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. Zurn Elkay Water Solutions Cor’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, sell-side analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. This is an increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is presently 35.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZWS shares. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. The Goldman Sachs Group reissued a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Oppenheimer lifted 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 research report on Wednesday, September 17th. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.67.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Timothy J. Jahnke sold 2,156 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total value of $102,496.24. Following the completion of the sale, the director owned 308,964 shares of the company’s stock, valued at $14,688,148.56. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 30,000 shares of company stock valued at $1,401,570. Insiders own 2.60% of the company’s stock.

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.