KLP Kapitalforvaltning AS Purchases Shares of 30,200 Zurn Elkay Water Solutions Co. (NYSE:ZWS)

KLP Kapitalforvaltning AS purchased a new position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,200 shares of the company's stock, valued at approximately $1,126,000.

Several other large investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted 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 worth $293,000 after buying an additional 259 shares during the period. DAVENPORT & Co LLC grew its position in Zurn Elkay Water Solutions by 3.2% in the fourth quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after acquiring an additional 269 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Zurn Elkay Water Solutions by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,984 shares of the company's stock valued at $205,000 after purchasing an additional 344 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Zurn Elkay Water Solutions by 0.7% during the fourth quarter. Sanctuary Advisors LLC now owns 58,208 shares of the company's stock valued at $2,288,000 after purchasing an additional 389 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Zurn Elkay Water Solutions by 4.8% during the fourth quarter. Venturi Wealth Management LLC now owns 9,441 shares of the company's stock worth $352,000 after purchasing an additional 430 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

ZWS has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday. Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $37.67.

Zurn Elkay Water Solutions Stock Down 6.8 %

Shares of ZWS stock traded down $2.29 during trading hours on Thursday, hitting $31.20. 509,314 shares of the company were exchanged, compared to its average volume of 1,081,553. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.01 and a beta of 1.16. Zurn Elkay Water Solutions Co. has a one year low of $28.25 and a one year high of $41.15. The business's 50-day simple moving average is $35.57 and its two-hundred day simple moving average is $36.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.81 and a current ratio of 2.91.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its 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 return on equity of 14.03% and a net margin of 10.23%. Sell-side analysts predict that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.36 annualized dividend and a yield of 1.15%. Zurn Elkay Water Solutions's payout ratio is 39.13%.

Insiders Place Their Bets

In other news, major shareholder Aimee Katz sold 8,912,500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 15,002,819 shares in the company, valued at approximately $504,094,718.40. This represents a 37.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Pauli sold 8,390 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the sale, the chief financial officer now directly owns 59,410 shares in the company, valued at approximately $2,107,272.70. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.