Edgestream Partners L.P. Acquires New Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Edgestream Partners L.P. purchased a new position 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 and Exchange Commission. The fund purchased 72,679 shares of the company's stock, valued at approximately $2,711,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Impax Asset Management Group plc grew its position in Zurn Elkay Water Solutions by 4.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,801,275 shares of the company's stock worth $315,645,000 after purchasing an additional 346,412 shares during the last quarter. State Street Corp grew its holdings in Zurn Elkay Water Solutions by 63.8% during the third quarter. State Street Corp now owns 5,441,980 shares of the company's stock worth $195,585,000 after acquiring an additional 2,119,777 shares during the period. Geode Capital Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company's stock worth $117,060,000 after purchasing an additional 35,570 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 49.6% in the third quarter. Principal Financial Group Inc. now owns 2,619,953 shares of the company's stock valued at $94,161,000 after purchasing an additional 868,748 shares during the period. Finally, Crescent Grove Advisors LLC lifted its position in shares of Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock valued at $90,842,000 after acquiring an additional 130,732 shares during the period. Institutional investors and hedge funds own 83.33% of the company's stock.

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Zurn Elkay Water Solutions Price Performance

Shares of NYSE ZWS traded down $0.41 during mid-day trading on Thursday, reaching $32.42. 692,645 shares of the company traded hands, compared to its average volume of 996,663. Zurn Elkay Water Solutions Co. has a fifty-two week low of $28.25 and a fifty-two week 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 stock has a fifty day simple moving average of $36.73 and a 200-day simple moving average of $36.72. The firm has a market cap of $5.51 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results 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 net margin of 10.23% and a return on equity of 14.03%. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. Zurn Elkay Water Solutions's dividend payout ratio is 39.13%.

Insider Buying and Selling

In other news, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the transaction, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Aimee Katz sold 8,912,500 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was 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. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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 report on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions presently has an average rating of "Hold" and a consensus target price of $38.40.

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.