Creative Planning Grows Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Creative Planning raised its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 95.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,553 shares of the company’s stock after buying an additional 14,452 shares during the period. Creative Planning’s holdings in Zurn Elkay Water Solutions were worth $1,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZWS. Allspring Global Investments Holdings LLC increased its holdings in Zurn Elkay Water Solutions by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 685,528 shares of the company’s stock valued at $22,945,000 after buying an additional 3,189 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Zurn Elkay Water Solutions by 5.6% in the first quarter. Janney Montgomery Scott LLC now owns 210,295 shares of the company’s stock valued at $7,039,000 after buying an additional 11,216 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Zurn Elkay Water Solutions in the first quarter valued at $142,000. Jennison Associates LLC increased its holdings in Zurn Elkay Water Solutions by 68.6% in the first quarter. Jennison Associates LLC now owns 1,275,293 shares of the company’s stock valued at $42,684,000 after buying an additional 518,733 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Zurn Elkay Water Solutions in the first quarter valued at $132,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Stock Up 0.6 %

Shares of NYSE ZWS opened at $36.11 on Friday. Zurn Elkay Water Solutions Co. has a 12-month low of $25.54 and a 12-month high of $38.11. The stock has a market cap of $6.17 billion, a PE ratio of 45.71, a P/E/G ratio of 1.94 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. The company has a 50-day moving average of $34.57 and a 200 day moving average of $32.28.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the prior year, the company earned $0.29 EPS. Zurn Elkay Water Solutions’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.21 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.00%. This is a positive change from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, November 20th. Zurn Elkay Water Solutions’s payout ratio is presently 45.57%.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the transaction, the director now directly owns 345,017 shares in the company, valued at $12,969,189.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.03, for a total value of $515,268.00. Following the transaction, the director now directly owns 385,017 shares in the company, valued at $12,717,111.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now owns 345,017 shares in the company, valued at $12,969,189.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,486 shares of company stock worth $3,338,593 in the last ninety days. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZWS. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Mizuho boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird boosted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted 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 research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.17.

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.