KLP Kapitalforvaltning AS Invests $1.13 Million in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

KLP Kapitalforvaltning AS acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,200 shares of the company’s stock, valued at approximately $1,126,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares in the last quarter. Atala Financial Inc purchased a new position in Zurn Elkay Water Solutions in the fourth quarter worth $44,000. Tsfg LLC acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at $56,000. Tortoise Investment Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company’s stock worth $65,000 after purchasing an additional 755 shares in the last quarter. Finally, Millburn Ridgefield Corp increased its holdings in shares of Zurn Elkay Water Solutions by 1,152.5% in the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company’s stock valued at $186,000 after purchasing an additional 4,760 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.40.

Zurn Elkay Water Solutions Trading Down 2.4 %

NYSE:ZWS opened at $32.96 on Monday. Zurn Elkay Water Solutions Co. has a 52-week low of $28.25 and a 52-week high of $41.15. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $35.89 and a 200-day simple moving average of $36.91. The company has a market capitalization of $5.56 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s payout ratio is 39.13%.

About Zurn Elkay Water Solutions

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.