Norges Bank Makes New Investment in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Norges Bank purchased a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,646,431 shares of the company's stock, valued at approximately $61,412,000. Norges Bank owned about 0.97% of Zurn Elkay Water Solutions at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company's stock worth $10,952,000 after acquiring an additional 140,624 shares during the period. Principal Financial Group Inc. boosted 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 purchasing an additional 868,748 shares during the period. JPMorgan Chase & Co. raised its holdings in Zurn Elkay Water Solutions by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,944 shares of the company's stock valued at $58,077,000 after acquiring an additional 329,563 shares during the period. Geode Capital Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company's stock worth $117,060,000 after acquiring an additional 35,570 shares in the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Zurn Elkay Water Solutions by 8.4% in the fourth quarter. Perpetual Ltd now owns 214,189 shares of the company's stock worth $7,989,000 after acquiring an additional 16,520 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Trading Up 1.0 %

NYSE:ZWS traded up $0.30 during mid-day trading on Tuesday, reaching $29.97. 197,735 shares of the company's stock traded hands, compared to its average volume of 998,452. The company has a 50 day moving average price of $35.03 and a 200-day moving average price of $36.82. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. 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 posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Zurn Elkay Water Solutions had a net margin of 10.23% and a return on equity of 14.03%. On average, sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 39.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ZWS shares. The Goldman Sachs Group decreased their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.67.

Zurn Elkay Water Solutions Company 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.