Fifth Third Wealth Advisors LLC Takes $247,000 Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Fifth Third Wealth Advisors LLC bought a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,621 shares of the company's stock, valued at approximately $247,000.

Several other large investors also recently modified their holdings of the stock. Quarry LP increased its holdings in shares of Zurn Elkay Water Solutions by 178.7% in the second quarter. Quarry LP now owns 836 shares of the company's stock worth $25,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its position in Zurn Elkay Water Solutions by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Zurn Elkay Water Solutions during the 3rd quarter valued at about $36,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions during the 4th quarter valued at about $56,000. Finally, KBC Group NV increased its holdings in Zurn Elkay Water Solutions by 20.9% in the 3rd quarter. KBC Group NV now owns 3,978 shares of the company's stock worth $143,000 after buying an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded up $0.31 during trading hours on Friday, reaching $38.13. 2,905,957 shares of the company traded hands, compared to its average volume of 794,773. The business has a fifty day moving average price of $38.63 and a 200-day moving average price of $35.12. The stock has a market capitalization of $6.47 billion, a P/E ratio of 48.27, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Zurn Elkay Water Solutions Co. has a 12-month low of $28.08 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping 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 business had revenue of $410.00 million during the quarter, compared to the consensus estimate of $406.15 million. During the same period in the prior year, the company posted $0.29 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.24 EPS for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were paid a $0.09 dividend. This is an increase from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 45.57%.

Insiders Place Their Bets

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total value of $4,779,600.00. Following the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the business's stock in a transaction dated 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 in the company, valued at $1,386,771.30. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,202 shares of company stock valued at $5,061,558 in the last 90 days. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ZWS shares. Mizuho raised their target price 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. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. Oppenheimer upped their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.50.

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.