Fernwood Investment Management LLC Increases Stock Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Fernwood Investment Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 199.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,935 shares of the company's stock after acquiring an additional 29,950 shares during the period. Fernwood Investment Management LLC's holdings in Zurn Elkay Water Solutions were worth $1,676,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Zurn Elkay Water Solutions by 11.2% during the third quarter. FMR LLC now owns 14,070 shares of the company's stock worth $506,000 after buying an additional 1,416 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Zurn Elkay Water Solutions by 7.8% during the third quarter. Captrust Financial Advisors now owns 7,832 shares of the company's stock valued at $281,000 after purchasing an additional 570 shares during the last quarter. HighTower Advisors LLC increased its holdings in Zurn Elkay Water Solutions by 3.3% in the third quarter. HighTower Advisors LLC now owns 8,092 shares of the company's stock valued at $293,000 after purchasing an additional 259 shares during the last quarter. State Street Corp boosted 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 buying an additional 2,119,777 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Zurn Elkay Water Solutions by 2.5% in the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company's stock valued at $650,000 after acquiring an additional 449 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the company's stock in a transaction on 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 completion of the sale, the insider now owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David J. Pauli sold 8,390 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.47, for a total transaction of $297,593.30. Following the completion of the sale, the chief financial officer now owns 59,410 shares of the company's stock, valued at approximately $2,107,272.70. This represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Zurn Elkay Water Solutions Trading Down 0.9 %

Zurn Elkay Water Solutions stock traded down $0.26 during trading hours on Monday, hitting $29.15. The stock had a trading volume of 189,825 shares, compared to its average volume of 1,110,370. The business's 50 day simple moving average is $33.82 and its 200-day simple moving average is $36.58. Zurn Elkay Water Solutions Co. has a one year low of $27.74 and a one year high of $41.15. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 2.01 and a beta of 1.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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%. On average, equities analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is currently 39.13%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZWS. The Goldman Sachs Group lowered their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Finally, BNP Paribas cut shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $36.43.

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.