Geode Capital Management LLC Acquires 35,570 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Geode Capital Management LLC boosted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,256,457 shares of the company's stock after acquiring an additional 35,570 shares during the quarter. Geode Capital Management LLC owned 1.92% of Zurn Elkay Water Solutions worth $117,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Zurn Elkay Water Solutions by 85.7% during the third quarter. Barclays PLC now owns 304,731 shares of the company's stock valued at $10,952,000 after purchasing an additional 140,624 shares during the period. MML Investors Services LLC boosted its position in Zurn Elkay Water Solutions by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company's stock valued at $650,000 after buying an additional 449 shares during the period. State Street Corp grew its holdings in Zurn Elkay Water Solutions by 63.8% in the 3rd 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 last quarter. Millburn Ridgefield Corp grew its holdings in Zurn Elkay Water Solutions by 1,152.5% in the 3rd quarter. Millburn Ridgefield Corp now owns 5,173 shares of the company's stock worth $186,000 after acquiring an additional 4,760 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of 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 acquiring an additional 259 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 10,035 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total transaction of $351,225.00. Following the transaction, the director now owns 374,982 shares in the company, valued at approximately $13,124,370. This represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the company's 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 transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,237 shares of company stock valued at $6,164,583. 3.00% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Down 4.4 %

ZWS traded down $1.70 during trading on Wednesday, reaching $37.28. The stock had a trading volume of 1,090,072 shares, compared to its average volume of 1,090,330. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 47.19, a P/E/G ratio of 2.02 and a beta of 1.14. The stock's 50 day moving average is $38.50 and its two-hundred day moving average is $34.05. Zurn Elkay Water Solutions Co. has a one year low of $27.55 and a one year high of $41.15.

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, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. As a group, analysts expect that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Wednesday, November 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. This is a positive change from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, November 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 45.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZWS. Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Mizuho lifted their price target on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.50.

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.