Thrivent Financial for Lutherans Takes Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Thrivent Financial for Lutherans bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 112,751 shares of the company's stock, valued at approximately $4,052,000. Thrivent Financial for Lutherans owned approximately 0.07% of Zurn Elkay Water Solutions as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in Zurn Elkay Water Solutions in the 3rd quarter valued at $776,000. CIBC Asset Management Inc purchased a new position in Zurn Elkay Water Solutions during the third quarter valued at $372,000. KBC Group NV grew its position in shares of Zurn Elkay Water Solutions by 20.9% in the third quarter. KBC Group NV now owns 3,978 shares of the company's stock valued at $143,000 after purchasing an additional 688 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Zurn Elkay Water Solutions by 63.5% during the third quarter. Venturi Wealth Management LLC now owns 9,011 shares of the company's stock worth $324,000 after purchasing an additional 3,498 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Zurn Elkay Water Solutions by 2.6% in the 3rd 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 buying an additional 1,594 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 120,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares of the company's stock, valued at $89,333,392.61. The trade was a 5.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of Zurn Elkay Water Solutions 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 transaction, the chief financial officer now owns 47,572 shares of the company's stock, valued at $1,862,443.80. The trade was a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,688 shares of company stock worth $8,400,151 over the last three months. Insiders own 3.00% of the company's stock.

Zurn Elkay Water Solutions Trading Up 0.8 %

Shares of Zurn Elkay Water Solutions stock traded up $0.32 during mid-day trading on Monday, hitting $40.25. The stock had a trading volume of 1,434,724 shares, compared to its average volume of 1,110,944. The firm has a 50-day moving average of $36.85 and a two-hundred day moving average of $33.09. The firm has a market cap of $6.83 billion, a P/E ratio of 50.54, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. 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 - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 company had revenue of $410.00 million during the quarter, compared to analysts' expectations of $406.15 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share 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. The ex-dividend date is Wednesday, November 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio is presently 45.57%.

Wall Street Analysts Forecast Growth

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