Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Purchased by Fmr LLC

Fmr LLC grew its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 11.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,070 shares of the company’s stock after purchasing an additional 1,416 shares during the period. Fmr LLC’s holdings in Zurn Elkay Water Solutions were worth $506,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of Zurn Elkay Water Solutions by 11.1% during the second quarter. Sei Investments Co. now owns 211,183 shares of the company’s stock worth $6,209,000 after purchasing an additional 21,081 shares during the period. Global Alpha Capital Management Ltd. boosted its holdings in Zurn Elkay Water Solutions by 23.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 92,448 shares of the company’s stock worth $3,323,000 after purchasing an additional 17,350 shares in the last quarter. Hsbc Holdings PLC increased its position in Zurn Elkay Water Solutions by 209.9% during the second quarter. Hsbc Holdings PLC now owns 82,640 shares of the company’s stock worth $2,411,000 after buying an additional 55,970 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after purchasing an additional 346,412 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Zurn Elkay Water Solutions in the second quarter valued at about $431,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZWS. Oppenheimer increased 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 research note on Tuesday, October 22nd. Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird upped their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Insider Activity at Zurn Elkay Water Solutions

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the completion of the sale, the vice president now owns 35,422 shares of the company’s stock, valued at approximately $1,386,771.30. The trade was a 8.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares of the company’s stock, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,202 shares of company stock valued at $5,813,358. Corporate insiders own 3.00% of the company’s stock.

Zurn Elkay Water Solutions Trading Down 4.4 %

NYSE:ZWS opened at $37.28 on Thursday. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 1-year low of $27.55 and a 1-year high of $41.15. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 47.19, a PEG ratio of 2.02 and a beta of 1.14. The business’s 50-day moving average price is $38.52 and its two-hundred day moving average price is $34.07.

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. The firm had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

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.