JPMorgan Chase & Co. Boosts Position in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

JPMorgan Chase & Co. boosted its position in Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 19.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,839 shares of the company's stock after purchasing an additional 319,895 shares during the period. JPMorgan Chase & Co. owned about 1.14% of Zurn Elkay Water Solutions worth $72,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZWS. HighTower Advisors LLC grew 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. DAVENPORT & Co LLC grew its stake in Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after acquiring an additional 269 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Zurn Elkay Water Solutions by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after acquiring an additional 344 shares in the last quarter. Sanctuary Advisors LLC raised its position in Zurn Elkay Water Solutions by 0.7% during the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock worth $2,288,000 after acquiring an additional 389 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Zurn Elkay Water Solutions by 4.8% in the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock valued at $352,000 after purchasing an additional 430 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ZWS. The Goldman Sachs Group dropped 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 note on Wednesday, April 2nd. Stifel Nicolaus raised their price target on 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions currently has a consensus rating of "Hold" and a consensus target price of $37.67.

Zurn Elkay Water Solutions Trading Up 1.0 %

ZWS stock traded up $0.30 during midday trading on Tuesday, hitting $29.97. The stock had a trading volume of 186,764 shares, compared to its average volume of 1,092,397. The company's 50-day moving average price is $35.03 and its 200 day moving average price is $36.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.91 and a quick ratio of 1.81. The firm has a market cap of $5.06 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Zurn Elkay Water Solutions Co. has a 12-month low of $28.25 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. On average, equities research analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend yield of 1.20%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's dividend payout ratio is currently 39.13%.

Insider Transactions at Zurn Elkay Water Solutions

In other 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 directly owns 15,002,819 shares in the company, valued at $504,094,718.40. This represents a 37.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David J. Pauli sold 8,390 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now owns 59,410 shares in the company, valued at $2,107,272.70. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.