Alpha DNA Investment Management LLC Purchases Shares of 13,119 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Alpha DNA Investment Management LLC purchased a new position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,119 shares of the company's stock, valued at approximately $471,000.

Several other hedge funds have also recently made changes to their positions in the company. Tortoise Investment Management LLC increased its position in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock worth $25,000 after purchasing an additional 373 shares during the last quarter. Quarry LP lifted its position in shares of Zurn Elkay Water Solutions by 178.7% in the 2nd quarter. Quarry LP now owns 836 shares of the company's stock worth $25,000 after purchasing an additional 536 shares during the period. International Assets Investment Management LLC bought a new stake in Zurn Elkay Water Solutions during the 2nd quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zurn Elkay Water Solutions during the third quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Zurn Elkay Water Solutions by 732.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after buying an additional 1,267 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Todd A. Adams sold 120,000 shares of the firm'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 of the company's stock, valued at $89,333,392.61. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the transaction, the vice president now directly owns 80,151 shares in the company, valued at $2,608,915.05. This trade represents a 39.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,688 shares of company stock valued at $8,400,151. Company insiders own 3.00% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS stock traded up $0.32 during trading hours on Monday, reaching $40.25. 1,434,724 shares of the company's stock were exchanged, compared to its average volume of 1,110,944. The company's 50 day moving average is $36.98 and its two-hundred day moving average is $33.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The company has a market cap of $6.83 billion, a P/E ratio of 50.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a 1 year low of $27.55 and a 1 year high of $40.64.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. Zurn Elkay Water Solutions's payout ratio is 45.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZWS. Oppenheimer upped their price target 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. Mizuho raised their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective 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. Robert W. Baird lifted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $38.17.

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.