GAMMA Investing LLC Raises Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

GAMMA Investing LLC raised its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 138.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 937 shares of the company’s stock after buying an additional 544 shares during the quarter. GAMMA Investing LLC’s holdings in Zurn Elkay Water Solutions were worth $35,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Zurn Elkay Water Solutions by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after buying an additional 329,563 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 during the last quarter. Virtu Financial LLC bought a new position in Zurn Elkay Water Solutions during the third quarter valued at approximately $234,000. Teachers Retirement System of The State of Kentucky lifted its position in Zurn Elkay Water Solutions by 23.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after purchasing an additional 11,732 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO David J. Pauli sold 4,070 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the completion of the transaction, the chief financial officer now owns 47,572 shares in the company, valued at $1,862,443.80. This trade represents a 7.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd A. Adams sold 120,000 shares of the company’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 value of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares in the company, 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. In the last quarter, insiders sold 127,202 shares of company stock worth $5,061,558. 3.80% of the stock is currently owned by corporate insiders.

Zurn Elkay Water Solutions Price Performance

Zurn Elkay Water Solutions stock opened at $37.26 on Wednesday. Zurn Elkay Water Solutions Co. has a 12-month low of $27.90 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 has a 50-day moving average price of $38.73 and a 200-day moving average price of $35.02. The firm has a market capitalization of $6.32 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced 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. The business had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 EPS 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. Shareholders of record on Wednesday, November 20th were given 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 of this dividend was Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 45.57%.

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.