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

NewEdge Wealth LLC raised its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,993 shares of the company’s stock after purchasing an additional 5,126 shares during the period. NewEdge Wealth LLC owned 0.08% of Zurn Elkay Water Solutions worth $4,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZWS. Creative Planning grew its position in shares of Zurn Elkay Water Solutions by 95.7% in the 3rd quarter. Creative Planning now owns 29,553 shares of the company’s stock valued at $1,062,000 after buying an additional 14,452 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Zurn Elkay Water Solutions by 3,475.8% in the third quarter. International Assets Investment Management LLC now owns 35,293 shares of the company’s stock valued at $1,268,000 after acquiring an additional 34,306 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Zurn Elkay Water Solutions during the third quarter worth about $2,943,000. New York State Teachers Retirement System acquired a new stake in shares of Zurn Elkay Water Solutions during the third quarter worth about $1,172,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 0.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 209,209 shares of the company’s stock valued at $7,519,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 0.3 %

ZWS opened at $35.09 on Friday. Zurn Elkay Water Solutions Co. has a 52 week low of $28.25 and a 52 week high of $41.15. The business has a 50 day moving average price of $37.32 and a two-hundred day moving average price of $36.48. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.97 billion, a PE ratio of 38.14, a P/E/G ratio of 2.01 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. As a group, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analysts Forecast Growth

ZWS has been the topic of a number of research reports. Robert W. Baird raised their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Mizuho lifted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.67.

Insider Activity

In other Zurn Elkay Water Solutions news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now owns 59,410 shares in the company, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares of the company’s stock, valued at approximately $504,094,718.40. This trade represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

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.