Strs Ohio Increases Stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Strs Ohio boosted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 235.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,300 shares of the company’s stock after acquiring an additional 32,500 shares during the quarter. Strs Ohio’s holdings in Zurn Elkay Water Solutions were worth $1,361,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in Zurn Elkay Water Solutions by 70.9% in the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock valued at $72,000 after purchasing an additional 1,064 shares during the period. SG Americas Securities LLC grew its holdings in Zurn Elkay Water Solutions by 368.9% in the third quarter. SG Americas Securities LLC now owns 35,475 shares of the company’s stock valued at $994,000 after purchasing an additional 27,910 shares during the period. Cannon Global Investment Management LLC acquired a new stake in Zurn Elkay Water Solutions in the third quarter valued at approximately $280,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Zurn Elkay Water Solutions by 1.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,339 shares of the company’s stock valued at $2,223,000 after purchasing an additional 982 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Zurn Elkay Water Solutions by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,076 shares of the company’s stock valued at $29,115,000 after purchasing an additional 83,182 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 4,231 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $31.29, for a total transaction of $132,387.99. Following the transaction, the vice president now owns 80,594 shares of the company’s stock, valued at $2,521,786.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 4,231 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 9th. The stock was sold at an average price of $31.29, for a total value of $132,387.99. Following the sale, the vice president now owns 80,594 shares in the company, valued at $2,521,786.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jeffrey A. Schoon sold 1,039 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.29, for a total value of $32,510.31. Following the completion of the sale, the president now owns 16,395 shares in the company, valued at approximately $512,999.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,234 shares of company stock valued at $14,573,307. Insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE:ZWS opened at $32.09 on Tuesday. The business’s 50 day moving average price is $31.89 and its 200-day moving average price is $29.92. The firm has a market capitalization of $5.56 billion, a PE ratio of 49.36, a P/E/G ratio of 1.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. Zurn Elkay Water Solutions Co. has a 1 year low of $20.06 and a 1 year high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $356.80 million for the quarter, compared to analyst estimates of $350.55 million. Zurn Elkay Water Solutions had a return on equity of 10.75% and a net margin of 7.36%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders 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 1.00%. The ex-dividend date of this dividend was Friday, February 16th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is currently 49.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BNP Paribas assumed coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective on the stock. Oppenheimer raised their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.75.

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.