Envestnet Asset Management Inc. Increases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Envestnet Asset Management Inc. increased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 8.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 845,155 shares of the company’s stock after purchasing an additional 66,754 shares during the period. Envestnet Asset Management Inc.’s holdings in Zurn Elkay Water Solutions were worth $24,848,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $5,213,000. Los Angeles Capital Management LLC purchased a new position in Zurn Elkay Water Solutions in the first quarter worth approximately $1,004,000. Epoch Investment Partners Inc. purchased a new position in Zurn Elkay Water Solutions in the first quarter worth approximately $7,674,000. UBS Group AG grew its position in Zurn Elkay Water Solutions by 37.5% in the fourth quarter. UBS Group AG now owns 217,525 shares of the company’s stock worth $6,397,000 after acquiring an additional 59,278 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after buying an additional 491,093 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ZWS shares. Deutsche Bank Aktiengesellschaft increased 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. Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Oppenheimer reiterated an “outperform” rating and set a $37.00 target price on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.17.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,240 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $29.14, for a total value of $240,113.60. Following the sale, the insider now owns 23,565,924 shares in the company, valued at $686,711,025.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the sale, the director now owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aimee Katz sold 8,240 shares of Zurn Elkay Water Solutions stock in a transaction on Monday, July 1st. The shares were sold at an average price of $29.14, for a total transaction of $240,113.60. Following the completion of the sale, the insider now directly owns 23,565,924 shares of the company’s stock, valued at approximately $686,711,025.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 190,812 shares of company stock worth $5,865,786. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Stock Down 0.4 %

Shares of NYSE ZWS opened at $34.84 on Friday. The firm has a fifty day moving average of $31.65 and a 200-day moving average of $31.48. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52-week low of $25.09 and a 52-week high of $35.18. The stock has a market capitalization of $6.02 billion, a PE ratio of 49.07, a P/E/G ratio of 1.80 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $412.00 million during the quarter, compared to analysts’ expectations of $409.14 million. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 annualized dividend and a yield of 0.92%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 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.