Zurn Elkay Water Solutions Co. (NYSE:ZWS) is J. W. Coons Advisors LLC's 2nd Largest Position

J. W. Coons Advisors LLC reduced its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 66.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,164 shares of the company's stock after selling 1,391,836 shares during the period. Zurn Elkay Water Solutions accounts for about 6.2% of J. W. Coons Advisors LLC's investment portfolio, making the stock its 2nd largest position. J. W. Coons Advisors LLC owned about 0.41% of Zurn Elkay Water Solutions worth $24,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Quarry LP increased its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company's stock valued at $25,000 after acquiring an additional 536 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 76.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock valued at $25,000 after buying an additional 373 shares during the period. International Assets Investment Management LLC purchased a new position in Zurn Elkay Water Solutions in the 2nd quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions in the third quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Oppenheimer lifted 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. Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Zurn Elkay Water Solutions has an average rating of "Hold" and an average price target of $38.17.

Insider Activity at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares of the company's stock, valued at approximately $89,333,392.61. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of Zurn Elkay Water Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now owns 35,422 shares in the company, valued at approximately $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 225,688 shares of company stock worth $8,400,151 in the last ninety days. 3.80% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS traded up $0.29 during trading hours on Monday, reaching $39.20. The company's stock had a trading volume of 348,242 shares, compared to its average volume of 1,115,266. The stock has a market cap of $6.65 billion, a PE ratio of 49.25, a PEG ratio of 1.97 and a beta of 1.14. The business has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $32.83. Zurn Elkay Water Solutions Co. has a 52 week low of $27.55 and a 52 week high of $40.64. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $410.00 million during the quarter, compared to analyst estimates of $406.15 million. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. Equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.24 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Wednesday, November 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Zurn Elkay Water Solutions's previous quarterly dividend of $0.08. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is 40.51%.

Zurn Elkay Water Solutions 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.