Raymond James & Associates Boosts Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Raymond James & Associates grew its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,433,580 shares of the company’s stock after acquiring an additional 61,748 shares during the quarter. Raymond James & Associates’ holdings in Zurn Elkay Water Solutions were worth $51,523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZWS. Jennison Associates LLC grew its holdings in shares of Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock worth $42,684,000 after purchasing an additional 518,733 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Zurn Elkay Water Solutions by 37.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after buying an additional 465,701 shares during the period. Principal Financial Group Inc. grew its stake in Zurn Elkay Water Solutions by 24.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock worth $51,485,000 after acquiring an additional 339,892 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 2.1% during the second 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. Finally, Wintrust Investments LLC raised its stake in shares of Zurn Elkay Water Solutions by 1,300.0% during the first quarter. Wintrust Investments LLC now owns 252,000 shares of the company’s stock valued at $8,434,000 after acquiring an additional 234,000 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Oppenheimer restated an “outperform” rating and set a $37.00 price objective on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Stifel Nicolaus raised their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions presently has an average rating of “Moderate Buy” and an average target price of $36.80.

Zurn Elkay Water Solutions Trading Down 1.5 %

Shares of NYSE:ZWS opened at $36.85 on Tuesday. The company has a market capitalization of $6.30 billion, a PE ratio of 47.24, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $38.11. The business’s fifty day simple moving average is $33.77 and its 200-day simple moving average is $32.05.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $412.00 million for the quarter, compared to analyst estimates of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. Zurn Elkay Water Solutions’s payout ratio is 41.03%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now directly owns 389,399 shares of the company’s stock, valued at approximately $12,854,060.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,572 shares of company stock worth $3,473,472 over the last three months. Corporate insiders own 3.80% of the company’s stock.

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.