ProShare Advisors LLC Has $583,000 Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

ProShare Advisors LLC lessened its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 25.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,835 shares of the company’s stock after selling 6,771 shares during the quarter. ProShare Advisors LLC’s holdings in Zurn Elkay Water Solutions were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ZWS. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after acquiring an additional 265,857 shares during the period. Sei Investments Co. lifted its stake in Zurn Elkay Water Solutions by 11.1% during the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after purchasing an additional 21,081 shares during the period. King Luther Capital Management Corp boosted its holdings in Zurn Elkay Water Solutions by 1.7% during the second quarter. King Luther Capital Management Corp now owns 168,358 shares of the company’s stock valued at $4,950,000 after purchasing an additional 2,841 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Zurn Elkay Water Solutions by 17.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,118 shares of the company’s stock valued at $297,000 after purchasing an additional 1,489 shares during the period. Finally, MQS Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 13.4% in the 2nd quarter. MQS Management LLC now owns 16,085 shares of the company’s stock worth $473,000 after buying an additional 1,901 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total value of $134,878.86. Following the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at $12,854,060.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $2,608,915.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,572 shares of company stock valued at $2,721,672. 3.80% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Price Performance

Shares of ZWS stock opened at $35.66 on Monday. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $36.05. The stock has a market capitalization of $6.16 billion, a PE ratio of 50.23, a PEG ratio of 1.87 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.75 and a current ratio of 2.84. The stock’s fifty day moving average is $32.01 and its 200-day moving average is $31.59.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is 45.07%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Oppenheimer restated an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.17.

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.