New York State Teachers Retirement System Takes $1.17 Million Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

New York State Teachers Retirement System purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,600 shares of the company’s stock, valued at approximately $1,172,000.

A number of other large investors have also recently bought and sold shares of ZWS. Envestnet Portfolio Solutions Inc. boosted its stake in Zurn Elkay Water Solutions by 12.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,786 shares of the company’s stock worth $696,000 after purchasing an additional 2,375 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Zurn Elkay Water Solutions during the 1st quarter worth $285,000. Qsemble Capital Management LP acquired a new stake in Zurn Elkay Water Solutions during the 1st quarter worth $379,000. Global Alpha Capital Management Ltd. boosted its stake in Zurn Elkay Water Solutions by 12.6% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 57,900 shares of the company’s stock worth $1,938,000 after purchasing an additional 6,500 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Zurn Elkay Water Solutions by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 26,606 shares of the company’s stock worth $891,000 after purchasing an additional 2,095 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ZWS shares. Stifel Nicolaus increased their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Mizuho raised 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.17.

Insider Activity

In related news, Director Timothy J. Jahnke sold 15,600 shares of the company’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 completion of the sale, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO David J. Pauli sold 4,070 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at $1,862,443.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy J. Jahnke sold 15,600 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total transaction of $515,268.00. Following the completion of the sale, the director now directly owns 385,017 shares of the company’s stock, valued at $12,717,111.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,688 shares of company stock valued at $8,400,151. 3.80% of the stock is currently owned by company insiders.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $39.17 on Friday. The company has a market cap of $6.65 billion, a PE ratio of 49.58, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a fifty day moving average price of $35.33 and a two-hundred day moving average price of $32.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.09 per share. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. Zurn Elkay Water Solutions’s payout ratio is 40.51%.

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.