Envestnet Asset Management Inc. Buys 66,754 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Envestnet Asset Management Inc. grew its holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 845,155 shares of the company’s stock after purchasing an additional 66,754 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.49% of Zurn Elkay Water Solutions worth $24,848,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC raised its holdings in Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company’s stock worth $25,000 after buying an additional 373 shares during the period. MJP Associates Inc. ADV boosted its position in Zurn Elkay Water Solutions by 5.5% during the second quarter. MJP Associates Inc. ADV now owns 10,214 shares of the company’s stock worth $300,000 after purchasing an additional 534 shares during the period. Arizona State Retirement System boosted its position in Zurn Elkay Water Solutions by 1.4% during the second quarter. Arizona State Retirement System now owns 40,929 shares of the company’s stock worth $1,203,000 after purchasing an additional 561 shares during the period. Everpar Advisors LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 4.5% during the second quarter. Everpar Advisors LLC now owns 14,731 shares of the company’s stock worth $433,000 after buying an additional 631 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after buying an additional 718 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 10,035 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the completion of the sale, the director now owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Aimee Katz sold 100,000 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $29.04, for a total transaction of $2,904,000.00. Following the sale, the insider now owns 23,574,164 shares of the company’s stock, valued at approximately $684,593,722.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Jahnke sold 10,035 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $351,225.00. Following the transaction, the director now owns 374,982 shares of the company’s stock, valued at approximately $13,124,370. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,812 shares of company stock worth $5,865,786. Company insiders own 3.80% of the company’s stock.

Zurn Elkay Water Solutions Stock Down 0.4 %

Shares of NYSE:ZWS opened at $34.84 on Friday. The stock’s 50-day moving average price is $31.65 and its 200-day moving average price is $31.48. Zurn Elkay Water Solutions Co. has a 12-month low of $25.09 and a 12-month high of $35.18. The stock has a market capitalization of $6.02 billion, a P/E ratio of 49.07, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions’s dividend payout ratio is currently 45.07%.

Wall Street Analyst Weigh In

ZWS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reiterated an “outperform” rating and issued a $37.00 target price on shares of Zurn Elkay Water Solutions in a report on Thursday, September 12th. Finally, Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Four equities research 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 has a consensus rating of “Hold” and a consensus price target of $35.17.

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.