Charles Schwab Investment Management Inc. Acquires 65,426 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Charles Schwab Investment Management Inc. increased its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,859,433 shares of the company's stock after buying an additional 65,426 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.10% of Zurn Elkay Water Solutions worth $66,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Zurn Elkay Water Solutions by 49.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after buying an additional 868,748 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Zurn Elkay Water Solutions by 37.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,695,510 shares of the company's stock worth $49,846,000 after acquiring an additional 465,701 shares in the last quarter. Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions by 4.1% during the third quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock valued at $315,645,000 after purchasing an additional 346,412 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Zurn Elkay Water Solutions by 2.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,138,996 shares of the company's stock valued at $386,286,000 after purchasing an additional 265,857 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Zurn Elkay Water Solutions by 775.5% in the 2nd quarter. Renaissance Technologies LLC now owns 219,693 shares of the company's stock worth $6,459,000 after purchasing an additional 194,600 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ZWS shares. Mizuho lifted 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. Robert W. Baird lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $38.17.

Zurn Elkay Water Solutions Stock Performance

Shares of NYSE ZWS traded up $0.14 during trading hours on Friday, hitting $39.82. 429,089 shares of the stock were exchanged, compared to its average volume of 1,104,455. The firm has a market capitalization of $6.76 billion, a P/E ratio of 50.23, a P/E/G ratio of 2.01 and a beta of 1.14. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $40.64. 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's 50 day moving average is $37.31 and its 200 day moving average is $33.28.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $406.15 million. During the same period last year, the business posted $0.29 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Wednesday, November 20th will be issued 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 0.90%. Zurn Elkay Water Solutions's payout ratio is 45.57%.

Insider Activity

In other news, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total transaction of $122,617.80. Following the sale, the vice president now owns 35,422 shares of the company's stock, valued at approximately $1,386,771.30. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,688 shares of company stock valued at $8,400,151. 3.80% of the stock is owned by company insiders.

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.