Thrive Wealth Management LLC Invests $268,000 in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thrive Wealth Management LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,468 shares of the company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Zurn Elkay Water Solutions by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company’s stock valued at $404,041,000 after buying an additional 131,683 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Zurn Elkay Water Solutions by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company’s stock worth $386,286,000 after purchasing an additional 265,857 shares during the last quarter. Crescent Grove Advisors LLC raised its holdings in shares of Zurn Elkay Water Solutions by 8.4% during the 1st quarter. Crescent Grove Advisors LLC now owns 2,304,715 shares of the company’s stock valued at $77,139,000 after purchasing an additional 178,861 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 24.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,751,205 shares of the company’s stock valued at $51,485,000 after purchasing an additional 339,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Zurn Elkay Water Solutions by 37.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company’s stock worth $49,846,000 after purchasing an additional 465,701 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares of the company’s stock, valued at $2,608,915.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Timothy J. Jahnke sold 4,086 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the completion of the transaction, the director now owns 389,399 shares in the company, valued at $12,854,060.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the completion of the sale, the vice president now owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,572 shares of company stock valued at $2,721,672 over the last ninety days. 3.80% of the stock is owned by company insiders.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock traded up $0.25 during mid-day trading on Friday, reaching $36.38. The company had a trading volume of 1,431,361 shares, compared to its average volume of 1,119,863. The company has a 50 day moving average of $32.47 and a 200-day moving average of $31.75. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $36.64. The company has a quick ratio of 1.75, a current ratio of 2.84 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 51.24, a PEG ratio of 1.92 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released 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. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 20th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Analysts Set New Price Targets

A number of analysts have weighed in on ZWS shares. Oppenheimer reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Zurn Elkay Water Solutions in a research report on Thursday, September 12th. Stifel Nicolaus boosted their price objective on shares of Zurn Elkay Water Solutions from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.