Cibc World Markets Corp Buys Shares of 13,481 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Cibc World Markets Corp bought a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,481 shares of the company's stock, valued at approximately $503,000.

Several other large investors also recently bought and sold shares of ZWS. Corient Private Wealth LLC grew its holdings in shares of Zurn Elkay Water Solutions by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,903 shares of the company's stock valued at $519,000 after buying an additional 876 shares during the last quarter. Gitterman Wealth Management LLC lifted its position in Zurn Elkay Water Solutions by 27.3% during the 4th quarter. Gitterman Wealth Management LLC now owns 7,472 shares of the company's stock worth $279,000 after acquiring an additional 1,603 shares during the period. Globeflex Capital L P grew its stake in Zurn Elkay Water Solutions by 18,387.1% during the 4th quarter. Globeflex Capital L P now owns 5,731 shares of the company's stock valued at $214,000 after purchasing an additional 5,700 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Zurn Elkay Water Solutions by 60.5% in the fourth quarter. Natixis Advisors LLC now owns 21,267 shares of the company's stock valued at $793,000 after purchasing an additional 8,017 shares during the period. Finally, Carret Asset Management LLC purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 8,390 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $299,460,000.00. Following the completion of the sale, the insider now directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This represents 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.

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Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company 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 stock. According to MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of "Hold" and a consensus price target of $38.40.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS traded down $0.21 during trading on Wednesday, reaching $34.01. 534,308 shares of the company traded hands, compared to its average volume of 1,034,110. The stock has a market cap of $5.74 billion, a P/E ratio of 36.97, a PEG ratio of 2.01 and a beta of 1.16. The firm's fifty day simple moving average is $36.15 and its 200 day simple moving average is $36.88. The company has a current ratio of 2.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 earnings per share for the quarter, beating 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, research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 39.13%.

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.