JPMorgan Chase & Co. Has $58.08 Million Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

JPMorgan Chase & Co. increased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 25.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,615,944 shares of the company’s stock after buying an additional 329,563 shares during the quarter. JPMorgan Chase & Co. owned about 0.95% of Zurn Elkay Water Solutions worth $58,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Zurn Elkay Water Solutions by 3.3% during the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company’s stock worth $293,000 after acquiring an additional 259 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Zurn Elkay Water Solutions by 1.3% in the third quarter. Bleakley Financial Group LLC now owns 20,871 shares of the company’s stock worth $750,000 after purchasing an additional 269 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 2.5% in the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after purchasing an additional 449 shares in the last quarter. Quarry LP boosted its position in shares of Zurn Elkay Water Solutions by 178.7% during the second quarter. Quarry LP now owns 836 shares of the company’s stock valued at $25,000 after buying an additional 536 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings 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 buying an additional 561 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Trading Up 0.4 %

NYSE:ZWS opened at $37.06 on Friday. Zurn Elkay Water Solutions Co. has a 12 month low of $27.55 and a 12 month high of $41.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $38.71 and its 200 day moving average is $34.62. The stock has a market capitalization of $6.29 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results 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 return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to analyst estimates of $406.15 million. During the same period in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th were paid a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, November 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is presently 45.57%.

Insider Activity

In other news, CFO David J. Pauli sold 4,070 shares of the 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 sale, the chief financial officer now directly owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the transaction, the chief executive officer now directly owns 2,242,867 shares of the company’s stock, valued at approximately $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,202 shares of company stock valued at $5,813,358 over the last quarter. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ZWS shares. Oppenheimer lifted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Mizuho upped their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird upped their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.