CIBC Asset Management Inc Takes $372,000 Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

CIBC Asset Management Inc bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,364 shares of the company’s stock, valued at approximately $372,000.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Zurn Elkay Water Solutions by 11.1% during the 2nd quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after acquiring an additional 21,081 shares in the last quarter. Hsbc Holdings PLC increased its stake in Zurn Elkay Water Solutions by 209.9% in the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock valued at $2,411,000 after purchasing an additional 55,970 shares during the last quarter. Impax Asset Management Group plc raised its holdings in Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock worth $315,645,000 after purchasing an additional 346,412 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Zurn Elkay Water Solutions during the 2nd quarter worth approximately $431,000. Finally, AQR Capital Management LLC acquired a new position in shares of Zurn Elkay Water Solutions in the 2nd quarter valued at $1,068,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling

In other news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.03, for a total transaction of $515,268.00. Following the transaction, the director now directly owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 3.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the completion of the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 1.4 %

Shares of ZWS stock opened at $39.35 on Friday. The company has a market capitalization of $6.68 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $36.71 and its two-hundred day moving average is $33.02. Zurn Elkay Water Solutions Co. has a twelve month low of $27.55 and a twelve month high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Oppenheimer raised their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Mizuho raised their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Hold” and an average price target of $38.17.

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.