Handelsbanken Fonder AB Boosts Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Handelsbanken Fonder AB grew its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,118 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zurn Elkay Water Solutions were worth $1,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. HighPoint Advisor Group LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter worth approximately $5,213,000. Sei Investments Co. increased its position in shares of 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 in the last quarter. Hsbc Holdings PLC increased its position in shares of Zurn Elkay Water Solutions by 209.9% during the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after purchasing an additional 55,970 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Zurn Elkay Water Solutions in the 1st quarter valued at $1,004,000. Finally, Epoch Investment Partners Inc. purchased a new position in Zurn Elkay Water Solutions in the 1st quarter valued at $7,674,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Transactions at Zurn Elkay Water Solutions

In related news, Director Timothy J. Jahnke sold 10,035 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the sale, the director now directly owns 374,982 shares in the company, valued at approximately $13,124,370. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 10,035 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares of the company’s stock, valued at $13,124,370. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,572 shares of company stock worth $2,721,672. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Zurn Elkay Water Solutions Trading Down 1.0 %

Shares of ZWS opened at $35.95 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $32.72 and a 200 day moving average price of $31.82. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $36.86. The firm has a market capitalization of $6.14 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.96 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (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 business had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.07%.

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.