Janney Montgomery Scott LLC Raises Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Janney Montgomery Scott LLC boosted its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 0.3% in the 3rd quarter, Holdings Channel reports. The firm owned 209,209 shares of the company’s stock after purchasing an additional 700 shares during the period. Janney Montgomery Scott LLC’s holdings in Zurn Elkay Water Solutions were worth $7,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ZWS. Dimensional Fund Advisors LP raised its stake in Zurn Elkay Water Solutions by 37.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock valued at $49,846,000 after acquiring an additional 465,701 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 24.1% in the second quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after purchasing an additional 339,892 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in 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 buying an additional 265,857 shares in the last quarter. Wintrust Investments LLC raised its stake in Zurn Elkay Water Solutions by 1,300.0% in the 1st quarter. Wintrust Investments LLC now owns 252,000 shares of the company’s stock valued at $8,434,000 after purchasing an additional 234,000 shares during the last quarter. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of Zurn Elkay Water Solutions during the first quarter worth about $7,674,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZWS has been the subject of several analyst reports. Robert W. Baird boosted their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus increased their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.17.

Insider Activity

In related news, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the completion of the sale, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the sale, the vice president now directly owns 35,422 shares of the company’s stock, valued at $1,386,771.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’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 completion of the sale, the director now owns 385,017 shares of the company’s stock, valued at approximately $12,717,111.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,688 shares of company stock valued at $8,400,151. Company insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $39.19 on Friday. The firm has a market cap of $6.65 billion, a P/E ratio of 49.58, a P/E/G ratio of 2.02 and a beta of 1.14. The business has a 50-day moving average price of $35.19 and a 200 day moving average price of $32.51. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a fifty-two week low of $27.55 and a fifty-two week high of $40.64.

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

Zurn Elkay Water Solutions Increases Dividend

The firm 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 $0.09 dividend. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 40.51%.

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.