Vanguard Group Inc. Raises Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Vanguard Group Inc. grew its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,738,204 shares of the company’s stock after purchasing an additional 131,683 shares during the period. Vanguard Group Inc. owned approximately 7.99% of Zurn Elkay Water Solutions worth $404,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in Zurn Elkay Water Solutions by 2,110.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock worth $67,968,000 after acquiring an additional 2,206,508 shares in the last quarter. Norges Bank purchased a new position in Zurn Elkay Water Solutions in the fourth quarter worth about $39,532,000. Raymond James & Associates grew its position in Zurn Elkay Water Solutions by 1,622.8% in the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares in the last quarter. Stifel Financial Corp grew its position in Zurn Elkay Water Solutions by 3,236.0% in the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after acquiring an additional 491,093 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Zurn Elkay Water Solutions by 2,065.2% in the fourth quarter. Victory Capital Management Inc. now owns 476,854 shares of the company’s stock worth $14,024,000 after acquiring an additional 454,830 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Ice Mountain Llc sold 36,938 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the sale, the insider now directly owns 23,682,793 shares of the company’s stock, valued at $720,904,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas Christopoul sold 10,495 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $32.11, for a total transaction of $336,994.45. Following the sale, the director now directly owns 104,844 shares of the company’s stock, valued at $3,366,540.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ice Mountain Llc sold 36,938 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $30.44, for a total transaction of $1,124,392.72. Following the sale, the insider now directly owns 23,682,793 shares in the company, valued at $720,904,218.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 641,465 shares of company stock valued at $20,532,684. 3.80% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Price Performance

NYSE ZWS opened at $29.17 on Friday. The firm’s fifty day simple moving average is $31.42 and its two-hundred day simple moving average is $31.00. The company has a current ratio of 3.31, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $34.58. The firm has a market capitalization of $5.04 billion, a P/E ratio of 41.09, a P/E/G ratio of 1.55 and a beta of 1.19.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. During the same period in the previous year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Analysts forecast that Zurn Elkay Water Solutions Co. will post 1.18 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 20th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, May 17th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Analyst Ratings Changes

Several analysts have issued reports on ZWS shares. Oppenheimer raised their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.50.

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.