Wealth Alliance Buys New Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Wealth Alliance bought a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,765 shares of the company’s stock, valued at approximately $228,000.

Several other large investors also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its position in shares of Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock worth $40,000 after purchasing an additional 500 shares during the period. Gabelli Funds LLC boosted its position in shares of Zurn Elkay Water Solutions by 1.5% in the fourth quarter. Gabelli Funds LLC now owns 33,600 shares of the company’s stock worth $711,000 after purchasing an additional 500 shares during the period. FMR LLC boosted its position in shares of Zurn Elkay Water Solutions by 7.3% in the third quarter. FMR LLC now owns 8,153 shares of the company’s stock worth $228,000 after purchasing an additional 558 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Zurn Elkay Water Solutions by 3.5% in the first quarter. Moneta Group Investment Advisors LLC now owns 19,623 shares of the company’s stock worth $419,000 after purchasing an additional 660 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of Zurn Elkay Water Solutions by 0.7% in the third quarter. Fiera Capital Corp now owns 119,908 shares of the company’s stock worth $3,360,000 after purchasing an additional 781 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $31.69 on Friday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 1.76 and a beta of 1.22. The firm’s fifty day moving average is $31.90 and its 200 day moving average is $29.84. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 52-week low of $20.06 and a 52-week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $356.80 million for the quarter, compared to the consensus estimate of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. Zurn Elkay Water Solutions’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.15 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

ZWS has been the subject of a number of recent analyst reports. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Oppenheimer upped their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.75.

Insider Activity

In other news, CEO Todd A. Adams sold 129,604 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Todd A. Adams sold 129,604 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Troutman sold 897 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the completion of the sale, the insider now directly owns 43,026 shares in the company, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 448,234 shares of company stock valued at $14,573,307. 3.80% of the stock is currently owned by company insiders.

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.