Exchange Traded Concepts LLC Purchases 23,823 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Exchange Traded Concepts LLC raised its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 986.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,237 shares of the company's stock after purchasing an additional 23,823 shares during the period. Exchange Traded Concepts LLC's holdings in Zurn Elkay Water Solutions were worth $979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZWS. Impax Asset Management Group plc grew its holdings 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 worth $315,645,000 after acquiring an additional 346,412 shares during the period. State Street Corp raised its stake in shares of Zurn Elkay Water Solutions by 63.8% during the 3rd quarter. State Street Corp now owns 5,441,980 shares of the company's stock worth $195,585,000 after buying an additional 2,119,777 shares during the period. Geode Capital Management LLC increased its holdings in Zurn Elkay Water Solutions by 1.1% in the 3rd 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. Principal Financial Group Inc. lifted its holdings 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 valued at $94,161,000 after purchasing an additional 868,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Zurn Elkay Water Solutions by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,859,433 shares of the company's stock worth $66,828,000 after purchasing an additional 65,426 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Insider Buying and Selling

In related news, VP Jeffrey J. Lavalle sold 3,132 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 in the company, valued at $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Pauli sold 4,070 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $159,340.50. Following the transaction, the chief financial officer now owns 47,572 shares of the company's stock, valued at approximately $1,862,443.80. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,202 shares of company stock valued at $5,061,558. Corporate insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Price Performance

ZWS stock traded up $0.19 on Friday, reaching $39.49. The company had a trading volume of 797,691 shares, compared to its average volume of 790,856. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. The company's fifty day moving average is $38.57 and its 200 day moving average is $35.78. The company has a market cap of $6.70 billion, a P/E ratio of 49.99, a PEG ratio of 1.81 and a beta of 1.15. Zurn Elkay Water Solutions Co. has a 1 year low of $28.25 and a 1 year high of $41.15.

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

Zurn Elkay Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Zurn Elkay Water Solutions's payout ratio is currently 45.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Oppenheimer increased their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Finally, Mizuho lifted their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.67.

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.