Massachusetts Financial Services Co. MA Has $652,000 Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Massachusetts Financial Services Co. MA boosted its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,147 shares of the company’s stock after buying an additional 778 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Zurn Elkay Water Solutions were worth $652,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ZWS. Quarry LP increased its position in Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after buying an additional 536 shares during the period. Tortoise Investment Management LLC grew its stake in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock valued at $25,000 after acquiring an additional 373 shares in the last quarter. International Assets Investment Management LLC bought a new position in Zurn Elkay Water Solutions during the second quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company’s stock valued at $42,000 after purchasing an additional 1,267 shares during the period. 83.33% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the completion of the sale, the vice president now directly owns 35,422 shares in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the transaction, the chief financial officer now directly owns 47,572 shares in the company, valued at $1,862,443.80. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,688 shares of company stock valued at $8,400,151. 3.00% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Trading Down 0.1 %

ZWS opened at $39.68 on Thursday. The company has a market cap of $6.73 billion, a P/E ratio of 50.23, a PEG ratio of 2.04 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 company’s 50 day moving average is $37.21 and its 200-day moving average is $33.24. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Equities research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be given a $0.09 dividend. The ex-dividend date is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.91%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 45.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZWS shares. 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 report on Thursday, October 31st. Robert W. Baird lifted their price objective 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 increased their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted 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, Oppenheimer increased their price objective on shares of 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. Four 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 has a consensus rating of “Hold” and a consensus target price 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.