Mutual of America Capital Management LLC Purchases Shares of 21,594 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Mutual of America Capital Management LLC acquired a new stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,594 shares of the company’s stock, valued at approximately $776,000.

Several other large investors also recently modified their holdings of the stock. CIBC Asset Management Inc bought a new stake in shares of Zurn Elkay Water Solutions in the third quarter valued at approximately $372,000. KBC Group NV boosted its position in shares of Zurn Elkay Water Solutions by 20.9% during the 3rd quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after acquiring an additional 688 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Zurn Elkay Water Solutions by 63.5% in the third quarter. Venturi Wealth Management LLC now owns 9,011 shares of the company’s stock valued at $324,000 after acquiring an additional 3,498 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Zurn Elkay Water Solutions by 2.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 61,813 shares of the company’s stock valued at $2,222,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Zurn Elkay Water Solutions by 49.6% during the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company’s stock valued at $94,161,000 after purchasing an additional 868,748 shares in the last quarter. 83.33% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction 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 owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 15,600 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the sale, the director now owns 385,017 shares of the company’s stock, valued at $12,717,111.51. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,688 shares of company stock valued at $8,400,151 in the last quarter. 3.00% of the stock is currently owned by insiders.

Zurn Elkay Water Solutions Price Performance

Shares of Zurn Elkay Water Solutions stock opened at $39.73 on Wednesday. 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 one year low of $27.55 and a one year high of $40.64. The business’s 50 day simple moving average is $37.10 and its two-hundred day simple moving average is $33.19. The stock has a market capitalization of $6.74 billion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $406.15 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Wednesday, November 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.08. Zurn Elkay Water Solutions’s payout ratio is 45.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird lifted their target price on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Mizuho increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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. Finally, Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.17.

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.