Tidal Investments LLC Has $305,000 Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Tidal Investments LLC reduced its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 25.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,488 shares of the company’s stock after selling 2,847 shares during the period. Tidal Investments LLC’s holdings in Zurn Elkay Water Solutions were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock valued at $386,286,000 after purchasing an additional 265,857 shares during the last quarter. Impax Asset Management Group plc raised its holdings in Zurn Elkay Water Solutions by 4.1% in the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company’s stock valued at $315,645,000 after buying an additional 346,412 shares during the last quarter. State Street Corp boosted its position in Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock worth $195,585,000 after buying an additional 2,119,777 shares during the period. Geode Capital Management LLC grew its holdings in Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after acquiring an additional 35,570 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Zurn Elkay Water Solutions by 49.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after acquiring an additional 868,748 shares during the period. 83.33% of the stock is owned by institutional investors.

Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the vice president now owns 35,422 shares of the company’s stock, valued at $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,202 shares of company stock valued at $5,813,358 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZWS has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Mizuho upped their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Zurn Elkay Water Solutions Stock Up 0.9 %

Shares of Zurn Elkay Water Solutions stock opened at $37.82 on Wednesday. The stock’s 50-day moving average is $38.58 and its 200 day moving average is $34.24. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $41.15. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $410.00 million for 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 for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.57%.

Zurn Elkay Water Solutions 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.