Jennison Associates LLC Purchases 63,078 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Jennison Associates LLC increased its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 9.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 756,560 shares of the company’s stock after buying an additional 63,078 shares during the period. Jennison Associates LLC owned 0.44% of Zurn Elkay Water Solutions worth $22,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZWS. IFP Advisors Inc grew its stake in shares of Zurn Elkay Water Solutions by 70.9% in the 3rd quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after buying an additional 1,064 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company’s stock worth $93,000 after buying an additional 1,517 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $125,000. Nisa Investment Advisors LLC boosted its stake in Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Zurn Elkay Water Solutions during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares in the company, valued at $60,451,863. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy J. Jahnke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $33.09, for a total value of $992,700.00. Following the transaction, the director now owns 589,275 shares of the company’s stock, valued at approximately $19,499,109.75. The disclosure for this sale can be found here. Insiders have sold a total of 741,506 shares of company stock valued at $23,964,936 over the last ninety days. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ZWS has been the topic of several recent analyst reports. Mizuho downgraded Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Friday, February 9th. Oppenheimer increased their target price on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. BNP Paribas started coverage on Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $31.88 on Friday. Zurn Elkay Water Solutions Co. has a one year low of $20.06 and a one year high of $34.58. The stock’s fifty day moving average is $31.93 and its 200 day moving average is $29.99. The stock has a market cap of $5.51 billion, a P/E ratio of 44.90, a P/E/G ratio of 1.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. During the same period last year, the firm earned $0.18 EPS. Zurn Elkay Water Solutions’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.15 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Zurn Elkay Water Solutions’s dividend payout ratio is presently 45.07%.

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.