Charles Schwab Investment Management Inc. Buys 76,102 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Charles Schwab Investment Management Inc. raised its stake in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,935,535 shares of the company's stock after acquiring an additional 76,102 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.14% of Zurn Elkay Water Solutions worth $72,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company's stock worth $35,000 after acquiring an additional 544 shares during the last quarter. Tsfg LLC bought a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth about $56,000. KBC Group NV lifted its holdings 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 worth $143,000 after acquiring an additional 688 shares during the last quarter. Millburn Ridgefield Corp lifted its holdings in shares of Zurn Elkay Water Solutions by 1,152.5% in the third quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company's stock worth $186,000 after acquiring an additional 4,760 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Zurn Elkay Water Solutions in the third quarter worth about $234,000. Institutional investors own 83.33% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price objective 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.67.

Remove Ads

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred 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 owns 15,002,819 shares of the company's stock, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the 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 sale, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock opened at $33.16 on Wednesday. The business has a 50 day moving average of $36.82 and a 200-day moving average of $36.74. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The company has a market capitalization of $5.64 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 earnings per share (EPS) 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%. On average, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is presently 39.13%.

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.

Want to see what other hedge funds are holding ZWS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.