Zurn Elkay Water Solutions Co. (NYSE:ZWS) Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC increased its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS) by 99.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 275,545 shares of the company’s stock after acquiring an additional 137,683 shares during the period. HighPoint Advisor Group LLC’s holdings in Zurn Elkay Water Solutions were worth $10,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $80,457,000. State Street Corp lifted its stake in Zurn Elkay Water Solutions by 63.8% in the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company’s stock valued at $195,585,000 after buying an additional 2,119,777 shares in the last quarter. Norges Bank acquired a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at $61,412,000. Principal Financial Group Inc. increased 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 worth $94,161,000 after buying an additional 868,748 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Zurn Elkay Water Solutions by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company’s stock worth $58,077,000 after acquiring an additional 329,563 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.40.

Zurn Elkay Water Solutions Trading Down 2.4 %

Shares of ZWS opened at $32.96 on Monday. Zurn Elkay Water Solutions Co. has a fifty-two week low of $28.25 and a fifty-two week high of $41.15. The stock has a fifty day moving average of $35.89 and a two-hundred day moving average of $36.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91. The company has a market capitalization of $5.56 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. As a group, analysts forecast that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions’s dividend payout ratio (DPR) is 39.13%.

Insiders Place Their Bets

In other news, CFO David J. Pauli sold 8,390 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Aimee Katz sold 8,912,500 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $33.60, for a total value of $299,460,000.00. Following the completion of the transaction, the insider now owns 15,002,819 shares in the company, valued at $504,094,718.40. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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.